Your friend spends money like water.When you learn that he is from a poverty-stricken background,you attribute his spending patterns to his earlier deprivation.According to the critical thinking analysis,you are likely to do this because of

Question

Quizplus · Accepted Answer

The given situation is an example of hindsight bias, also known as the "I-knew-it-all-along phenomenon." It refers to the tendency to think that an outcome was predictable after it has occurred, despite not predicting it in advance. In this case, the person is attributing their friend's spending patterns to their poverty-stricken background after the fact, as if they knew it would happen all along.

Your Friend Spends Money Like Water