Module 2: Did You Know It All Along? Flashcards
1
Q
What is hindsight bias?
A
The tendency to exaggerate, after learning an outcome, one’s ability to have foreseen how something turned out.
2
Q
How is the hindsight bias also known?
A
Know-it-all-along phenomenon
3
Q
What is hindsight bias? (In class)
A
Phenomenon in which people overestimate how likely they think they would have predicted an event to occur after they already know it occurred
Monday morning
I knew it all along effect
4
Q
What is foresight ?
A
Ex: how likely I Donald Trump win?
Asking before
Ignore what you know before
5
Q
What is bias
A
Difference between foresight and hand sight
6
Q
What is confirmation bias?
A
The mechanism through which hindsight bias most likely occurs
