What is the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known?
A)the hindsight bias
B)the sunk costs error
C)the randomness bias
D)randomness bias
E)the selective perception bias

Question

Quizplus · Accepted Answer

This tendency is known as the hindsight bias or "I-knew-it-all-along" effect. It occurs when one feels that they would have accurately predicted an event after it has already occurred, even though they may not have realistically been able to predict it beforehand.

What Is the Tendency for Decision Makers to Falsely Believe