Using hindsight to judge whether buying insurance was a good idea or not:
A) is the only way to properly measure the true cost of the insurance and its benefit.
B) is not a good idea; you have to measure the decision considering the information available at the time.
C) can prove that a good decision at the time was really not worth it.
D) is commonly used by people who wish to buy insurance in the future.

Question

Quizplus · Accepted Answer

Hindsight bias can cloud our judgment and make us believe that decisions made in the past were either better or worse than they actually were. Therefore, it is important to evaluate decisions based on the information available at the time, and not based on the outcomes that we know today. This approach provides a more accurate assessment of the decision-making process and helps to avoid hindsight bias.

Using Hindsight to Judge Whether Buying Insurance Was a Good