Bob is making a decision to buy a new printer.He is reflecting on his previous purchase of office equipment and based on the savings they made he believes that decision was sound.This is an example of hindsight bias.

Question

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This is an example of outcome bias, where Bob evaluates the quality of a decision based on its outcome rather than the decision-making process itself. Hindsight bias involves believing an event was predictable after it has already happened.

Bob Is Making a Decision to Buy a New Printer