Mike crampton's stockbroker has informed him that he has suffered substantial investment losses. when mike tells his wife, she angrily responds, "i could have told you that your investment plan would fail!" her comment best illustrates

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Social Studies

Ruby Harris

2 September, 06:16

Mike crampton's stockbroker has informed him that he has suffered substantial investment losses. when mike tells his wife, she angrily responds, "i could have told you that your investment plan would fail!" her comment best illustrates

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Bernard Lara · Answer 1

Her comment best illustrates "hindsight bias".

Hindsight bias is a psychological phenomenon in which past occasions appear to be more noticeable than they showed up while they were happening. Hindsight bias can lead a person to trust that an occasion was more unsurprising than it really was, and can result in a misrepresentation in circumstances and end results. Hindsight bias is considered in behavioral economics.