The tendency to overestimate one's ability to have foreseen or predicted the outcome of an event is called the self-serving bias.

Question

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The statement describes the hindsight bias, which is the tendency to believe after an event has occurred that one would have predicted or expected the outcome. The self-serving bias is the tendency to attribute successes to one's own abilities and efforts, and failures to external factors such as luck or others' actions.

The Tendency to Overestimate One's Ability to Have Foreseen or Predicted