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Browse & Filter Biases

Showing 187 biases.

Not Enough Meaning

We project our current mindset and assumptions onto the past and future

Outcome bias

Description

The tendency to judge a decision by its eventual outcome instead of based on the quality of the decision at the time it was made.

Example 1:

A manager who made a risky investment that paid off is praised as a visionary, while another manager who made a similar well-reasoned risky investment that failed is criticized, regardless of the decision-making process.

Example 2:

A risky business decision that happens to lead to a positive outcome might be praised as brilliant, even if it was poorly thought out and succeeded due to luck. Conversely, a well-reasoned decision with a bad outcome might be unfairly criticized.

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