||After reviewing the literature on actor/observer asymmetry and affective decision making, I describe a paradigm that assesses whether actors are more influenced by punishment than observers. In this computerized gambling task, subjects were instructed that 9 of the items were good (win $1 per item) and one was disastrous (lose all the money). Actors had to decide when to stop while observers had to judge the choices made by a confederate. Following the disastrous item, both actors and observers behaved more cautiously. For actors, this punishment effect was modulated by individual differences in regret proneness. I discuss these findings in relation to current theories of decision making.