Asked by Melanie Moynihan on Jul 20, 2024
Verified
Every week during football season, Fred and his friends have fun following the local high-school teams.Before the games, Fred never really talks too much about how the games will turn out.On Monday, however, it is a different scenario altogether.Fred is more than happy to share with his friends that the games came out exactly as he thought they would and why.Fred seems to be demonstrating
A) overconfidence bias.
B) hindsight bias.
C) selection bias.
D) deductive reasoning.
Hindsight Bias
The tendency to believe, after learning an outcome, that one would have foreseen it, often referred to as the "I-knew-it-all-along" phenomenon.
Overconfidence Bias
A cognitive bias which leads an individual to overestimate their knowledge, abilities, or control over situations.
Selection Bias
A type of bias caused by choosing non-random data for statistical analysis, which can cause the results to not be representative of the whole population.
- Acquire knowledge of several biases including confirmation, availability, representativeness, and hindsight, and their impact on decision-making and problem-solving.
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Learning Objectives
- Acquire knowledge of several biases including confirmation, availability, representativeness, and hindsight, and their impact on decision-making and problem-solving.
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