This paper aimed at theoretic investigation and verification of the differences in the extent of self-validation and regulatory focus as experienced by those consumers who would feel sad versus happy ahead. It was also intended in this paper to theoretically examine and prove the effects by grade of self-validation as felt by the consumers who might become sad versus happy ahead upon regulatory focus as well as upon information distortion. For an empirical analysis, a survey was conducted with the students who were enrolled in the marketing course. The data of 55 questionnaires collected from the happiness group and 53 collected from the sadness group were put to empirical analysis using the Amos 18.0 program of structural equation model, resulting in the following outcomes:First, those consumers who felt happy beforehand revealed larger amount of self-validation than those who felt sad in advance.Second, the consumers who felt happy demonstrated stronger promotion focus than those who felt sad, while there was no difference in the extent of prevention focus between the consumers who felt happy and those who felt sad.Third, the extent of self-validation exercised positive influence upon promotion focus but did not upon prevention focus.Fourth, self-validation turned out to have positive impact upon information distortion.Fifth, compared to sadness which was felt beforehand, happiness which was felt previously was found to have partially positive impact upon promotion focus by means of self-validation. It was also learned from the survey that such happiness, in comparison to sadness, exercised entirely positive impact upon information distortion through mediation of self-validation. The empirical outcomes of the present study could offer following theoretic implications:This study has made theoretic contributions by identifying the differences in the extent of self-validation and promotion focus between happiness and sadness as ambient emotion felt prior to the impending decision making as well as by investigating the effects of self-validation upon information distortion.The managerial implications of this study might be summed up as follows:First, marketing managers should endeavor to promote happiness of consumers in a try to facilitate their thought confidence as well as self-validation for their products in the competing market; Second, marketing managers should devote themselves to assisting consumers to feel happy in an effort to stimulate their promotion focus; andThird, marketing managers should struggle to intensify consumers' confidence in their products by exposing them repeatedly to consumers making use of highly trustworthy commercial messages. Despite the theoretic and managerial implications as described above, there are limits and restrictions in this study which should be complemented in the future studies:First, the effects of regulatory focus on information distortion could not be dealt with in the present study. Regulatory fit approach demands for constructing messages in compliance with regulatory focus of recipients to produce better effects of regulatory fit. Depending on the regulatory focus, messages of eagerness and vigilance might have different effects of regulatory fit from each other. Since this study did not use different items of questionnaires to measure information distortion depending on the two frames of eagerness and vigilance, future researches are requested to measure information distortion by means of questionnaires that are constructed to be regulatory fit in order to explore the effects of information distortion by regulatory focus. Second, the empirical analysis denied every hypothesis that was related to prevention focus. Both consumers who feel happy and those who feel sad could share prevention focus, in the former case, to avoid the information that may threaten them and, in the latter case, to precisely process ambient information. In order to make clear the difference in prevention focus between the consumers who feel happy and those who feel sad, future studies need to make clear if certain information is threatening or useful for consumers to make exact decision.Third, this study was limited to two types of emotion, that was happiness and sadness, failing to pay due attention toward other types which may differ depending on the intensity of emotion. Happiness might be something positive emotion of the mid-intensity, whereas sadness be something negative of the mid-intensity. The high grade positive emotion could include something highly delighted at or joyous of and the high grade negative emotion could imply something miserable. In the future researches, it is therefore requested to focus on classifying the emotion in more detailed categories to account for the intensity of emotion that is felt and to determine the extent of self-validation as well as the impact upon regulatory focus.Fourth, the level of information distortion on the part of consumers who are inclined to show true loyalty may rise further. In other word, the consumers with inclination to true loyalty might tend to reveal more intensified confirmation bias by distorting all the more the information that stands contrary to their previous conviction. It is thus requested to perform more depth studies on the information distortion depending on the true loyalty of consumers. Key-words : Happiness, Information distortion, Regulatory focus, Sadness, Self-validation