Which of the following is defined as the tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated without the outcome information?
A) hindsight bias
B) foresight bias
C) overconfidence bias
D) escalation of commitment

Question

Quizplus · Accepted Answer

Hindsight bias is the tendency for people to overestimate their ability to predict an event after it has occurred. In other words, people tend to claim that they would have predicted an outcome with a higher probability than they actually estimated before the outcome occurred. This bias can lead people to believe that an event was more predictable than it actually was.

Which of the Following Is Defined as the Tendency for Individuals