The omission bias undergoes a reversal with respect to decisions made in the more distant past.
We tend to regret any incorrect decision of action in the short terms but in the long term we regret more when we fail to act.
For ex: Regret more if we bought a stock that tanked in price this past week, regret more if we decided against buying a stock that grew astronomically over time.
Failures to act impact long term regret!
