Hindsight bias occurs when new information comes to light about a past experience—changing how we recall that experience. ... Hindsight bias is rooted in overconfidence and anchoring. After an event occurs, we use the knowledge of the outcome as an anchor to attach our prior judgments to the outcome.

What is hindsight bias and an example?

For example, after attending a baseball game, you might insist that you knew that the winning team was going to win beforehand. High school and college students often experience hindsight bias during the course of their studies. ... "Of course," students often think after reading the results of a study or experiment.

Is hindsight bias common?

Hindsight bias is a common and robust cognitive error that has been documented across cultures (Pohl, Bender, & Lachmann, 2002) in a variety of judgments, including medical diagnoses (Arkes, Wortman, Saville, & Harkness, 1981), legal decisions (Harley, 2007), consumer satisfaction (Zwick, Pieters, & Baumgartner, 1995), ...