Counterfactually mediated emotions: A developmental study of regret and relief in a probabilistic gambling task

► The goal of this study was to uncover the development of regret and relief from late childhood to adulthood. ► We examined emotional and choice ratings in a child-friendly gambling task. ► The ability to experience regret and relief continues to develop in late childhood and adolescence. ► Children and adolescents' subjective experience of regret was reduced compared to adults. ► We found a dissociation between the experience of regret and the willingness to reconsider an initial choice in children.