Hindsight bias can make us think we knew something all along, even if we didn’t.
So, be careful when someone or your dog or your hamster say, “I knew it!” because hindsight bias is a real thing that can affect anyone.
It’s also known as the “knew-it-all-along” effect.
It is the tendency for people to perceive an event as being more predictable than it actually was, after it has occurred.
In simple words it’s like saying ‘I knew it all along’ when you really didn’t and when it has happened!
It’s like pretending you’re a psychic, but you’re just good at predicting things after they’ve already happened!
Just like my hamster saying she knew it would be raining after it was raining!
So what do we learn?
Hindsight bias can affect how we see things, like our trading decision showed.
We all experience this bias at some point, so it’s essential to recognize it and understand that we can’t always predict what will happen.
(unless you come from the future)..
So, be careful when someone or your dog or your hamster say, “I knew it!” because hindsight bias is a real thing that can affect anyone.
It’s also known as the “knew-it-all-along” effect.
It is the tendency for people to perceive an event as being more predictable than it actually was, after it has occurred.
In simple words it’s like saying ‘I knew it all along’ when you really didn’t and when it has happened!
It’s like pretending you’re a psychic, but you’re just good at predicting things after they’ve already happened!
Just like my hamster saying she knew it would be raining after it was raining!
So what do we learn?
Hindsight bias can affect how we see things, like our trading decision showed.
We all experience this bias at some point, so it’s essential to recognize it and understand that we can’t always predict what will happen.
(unless you come from the future)..
I come from the future.
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