Which of the following statements is true regarding the hindsight bias?
A) It indicates a tendency to fixate on initial information and fail to adequately adjust for subsequent information.
B) It indicates that we seek out information that reaffirms our past choices, and we discount information that contradicts them.
C) It indicates our tendency to base judgments on information readily available.
D) It indicates our tendency to believe falsely, after the outcome is known, that we would have accurately predicted it.
E) It indicates our tendency to draw a general impression about an individual on the basis of a single characteristic, such as intelligence.

Question

Quizplus · Accepted Answer

The hindsight bias, also known as the "I-knew-it-all-along" phenomenon, refers to our tendency to believe falsely, after the outcome is known, that we would have accurately predicted it. This bias can lead to overconfidence in our ability to make predictions or judgments. Option A describes the anchoring bias, option B describes confirmation bias, option C describes the availability heuristic, and option E describes the halo effect.

Which of the Following Statements Is True Regarding the Hindsight