Hindsight Bias

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Devayani Vyavaharkar
Student (University), India
🔥NEW Let us assume that you had an interview for the post of a Research Analyst at a top firm. After a few days, you get an email from them saying that you have been recruited for that post. Excited and happy, you tell this news to your mother. She suddenly exclaims and says, 'I knew this would happen.' Did she foresee the future? Not really. Instead, it was her gut feeling that you would get the job. Instances like these are bound to happen almost daily. Do we ever imagine why they happen? Such situations are due to the Hindsight Bias. WHAT IS HINDSIGHT BIAS? INTRODUCTION The word Hindsight means understanding an event or a situation only after it has occurred. Hindsight Bias (or creeping determinism or "knew-it-all-along" phenomenon) is people's tendency to falsely assume that they can accurately predict an event's outcome (after the event has occurred) without knowing about it beforehand. Because of Hindsight Bias, people tend to assume that they can correctly predict either positiv (...) Read more? Sign up for free

  John Henry
Project Manager, United States
 

Looking Back on It, I can not See How you can Eliminate Hindsight Bias

If you are actually using hindsight, your views sh (...)

  Devayani Vyavaharkar
Student (University), India
 

Biases can Never be Eliminated, Only Managed!

@John Henry: Thank you for your feedback! The sta (...)

  Jeff Washburn
Strategy Consultant, United States
 

Or Past Performance is no Guarantee of Future Results

Organizations also make this assumption in a diffe (...)

  Molokanova
Professor, Ukraine
 

Hindsight Bias in Decision Making

As a scientist, I am convinced that decisions shou (...)

  Franco Savanco
Entrepreneur, Argentina
 

It's Easy to Try at Home!

I just tested on my family asking what the world " (...)

  Kamal Hajj
Director, Qatar
 

Reducing Hindsight at Work

Simply ask your team to write down their expectati (...)

  Molokanova
Professor, Ukraine
 

I Knew it Before

@Franco Savanco: There are many different proverbs (...)

  Molokanova
Professor, Ukraine
 

Reducing Hindsight at Work

@Kamal Hajj: When working with risks, I most often (...)

  Chris Blackman
Business Consultant, Australia
 

Hindsight is 20/20

The trouble with hindsight is we assume it is 20/2 (...)

  John Henry
Project Manager, United States
 

Hindsight Bias and the Need to Document All Successful and Failed Attempts

@Chris Blackman: you are correct sir. However it i (...)

 

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