Hindsight Bias - Explained
What is Hindsight Bias?
Written by J. Mance Gordon
Updated at April 22nd, 2024
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What is Hindsight Bias?
The hindsight bias is an assumption that the outcome of an event was more predictable than it actually was prior to the event occurring. More specifically, it is a concept in psychology that explains the tendency to perceive the outcome of past events as more predictable than they were before their occurrence.
Hindsight bias is a psychological concept that is also studied in behavioral economics.