Anyone who has bought a Mac can understand this hindsight flaw
After an event occurs we go back and look at what happened and in the 2008 market crash is one of those?
It’s no secret the NFL is having a domestic violence crisis on their hands, people are calling for the the commissioner to get fired and players are getting arrested left and right.
Recently the Lithuanian President Dalia Grybauskaite stated “Comparisons between Vladimir Putin and Hitler are spot on” and she is right Hitler did use the same tactics of being aggressive, violent and stepping over boundaries towards Poland.
In an Independent article she was quoted as saying:”Putin has a missionary vision to defend the eastern hemisphere. He has in mind a Russia like that of the time of Catherine the Great. His character has developed strangely.”
Actually never mind video games actually make you smarter!
Hindsight bias – A known psychological phenomenon wherein people tend to overemphasized the predictability of events prior to their happening. American Psychological Association conducted a study in 2000 disclosed that hindsight bias inclined to help the people of thinking clearly by assisting the brain in retaining accurate and significant information instead of inaccurate one. The hindsight bias phenomenon can be more understood by using relevant examples from actual case scenario.
How does it work?
This bias basically works in several ways. It is essentially important in considering it in criminal cases for the reason that a witness has a tendency not to be closely accurate. The witness, which may have been clouted by hindsight bias together with other several biases, which affect the manner brain restores as well as recalls information. We can think of other examples how hindsight bias is applicable in our own life.An example occurrence of hindsight bias phenomenon is if somebody claimed his prediction regarding an event is more considerable than what it really was. A person may generally observe, “it may rain in the future”, given his general knowledge on whether patterns. Moreover, the moment that it rains after the statement, the person may perceive that his prediction is stronger than it really was. Inaccurate or incorrect predictions may not be remembered as the same with unclearly correct prediction, which supported the idea in somebody’s mind that their predictive skills are better compared with what they really are.
Taking into consideration the phenomenon “vaticinium ex eventu”. An extremely unclear statement concerning an event that may occur was made. The same unclear statement will be turned into a solid prediction prior to the occurrence of the event. Several other examples of unclear predictions that later were thought as more significant than they were, are found in the Greek mythology. In Greek mythology, cryptic oracles create blanket statements that could be said easily to be a prediction of many events.
With the other several biases that are documented in psychology, hindsight bias is generated by something accepted as availability heuristic. In a sense, people create assessments regarding things based on information that they can easily bring into their mind, which may not be considered as the most scientific method in basing such assessment. Let us take an example, say a person visits a store in the fast food area, and noted that all the patron in that store are overweight. That person may declare that all the patrons in that food area is overweight, based on the observation made in one of the store. With regard to hindsight bias, the people turn few unclear statements into concrete predictions, and can assume an event such as the Presidential election outcome may be predicted basing on their experience.
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If you wanted to keep your beer cold you have used personalized koozies from Express Imprint. Finally decided to get some personalized koozies after having to drink warm beer in this hot weather! Some people use them for marketing and I think I might do that next time!
Paying your employes the minimum wage does have an effect on the amount their morale? Business that do pay minimum wage do have low morale. Causation doesn’t equal correlation!
Does the minimum wage effect job growth? according to the facts the every time the minimum wage has gone up in the past the growth of the economy and jobs has not slowed down.