Definition of Hindsight Bias

Hindsight bias, also known as the “I-knew-it-all-along” phenomenon, is a cognitive bias in which individuals perceive past events as having been more predictable than they actually were. It refers to the tendency for people to believe falsely, after an event has occurred, that they would have predicted or expected the outcome. This bias can distort our memory of past beliefs and knowledge, leading us to overestimate our ability to have predicted an outcome.