Cognitive Biases
Continuing to watch a bad movie just because you already paid for the ticket.
A- Anchoring Bias B- Bandwagon Effect
C- Negativity Bias D- Sunk Cost Fallacy
E- Happy Gilmore 2 F- All of the above
D- Sunk Cost Fallacy
True or False - Hindsight Bias causes us to see past events as less predictable than they actually were.
FALSE!
Only reading newspaper articles that agree with your political views.
A- Anchoring Bias B- Dictatorship Bias
C- Hindsight Bias D- Negativity Bias
E- Confirmation Bias F- Sunk Cost Fallacy
E- Confirmation Bias
Which statement about Hindsight Bias is TRUE?
A- It only affects people with low intelligence.
B- It's easy to avoid once a person is aware of it.
C- It's difficult to avoid, even a person is aware of it.
D- It never happens to psychology experts.
C- It's difficult to avoid, even a person is aware of it.
Trusting the provided information more if presented by an attractive person.
A- Authority Bias B- Overconfidence Bias
C- Halo Effect D- Sun Cost Fallacy
E- Hindsight Bias F- Anchoring Bias
C- Halo Effect
To reduce the impact of hindsight bias in decision-making, which strategy is the most effective?
A- Only trust your intuition, as logic is prone to bias.
B- Consider and explain how alternative outcomes could have occurred.
C- Assume all outcomes were inevitable.
D- Never review past decisions.
B- Consider and explain how alternative outcomes could have occurred.
Attributing success to practice and skill and attributing failure to external factors.
A- Self-Serving Bias B- Confirmation Bias
C- Hindsight Bias D- Anchoring Bias
E- Negativity Bias F- Simon Cowell Bias
A- Self-Serving Bias
RIDDLE ALERT! - What do you call a lion running around on the 3rd floor of a hospital?
Lost.
Assuming that a random sequence is "due" to change after a long streak of the same sequence.
A- Hindsight Bias B- Hot Hand Fallacy
C- Sunk Cost Fallacy D- Gambler's Fallacy
E- Negativity Bias F- Meteorology
D- Gambler's Fallacy
Hindsight Bias is distinct from Self-Serving Bias because..
A- Hindsight Bias only applies to negative outcomes.
B- Hindsight Bias is purely a cognitive.
C- Hindsight Bias occurs regardless of whether the outcome is positive or negative.
D- Hindsight Bias always results in improved future decision-making.
E- Hindsight Bias requires vision instead of other senses.
C- Hindsight Bias occurs regardless of whether the outcome is positive or negative.