Definition: The term hindsight bias refers to the tendency people have to view events as more predictable than they really are. After an event, people often believe that they knew the outcome of the event before it actually happened. The phenomenon has been demonstrated in a number of different situations, including politics and sporting events. In experiments, people often recall their predictions before the event as much stronger than they actually were. Continue reading to learn more about the hindsight bias.
Image courtesy Piotr Bizior