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The "I Knew It All Along" Trap: How Hindsight Bias Affects Business Decisions
Manage episode 409379669 series 3474709
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In this episode, we delve into the concept of the "I knew it all along" bias, also known as hindsight bias. This cognitive bias leads people to believe that past events were more predictable than they actually were at the time. We explore how this bias can affect decision-making in business, causing companies to resist change and overlook past mistakes. By recognizing and challenging this bias, businesses can take control of their outcomes and make better decisions for the future.
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