Highest and best use and Hindsight bias: Difference between pages
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imported>Doug Williamson (Incorporate market participants within the body of the page.) |
imported>Doug Williamson (Create page. Sources: The Treasurer, April 2020, p08, Investopedia https://www.investopedia.com/terms/h/hindsight-bias.asp) |
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'' | ''Self management and accountability - working effectively with others - cognitive bias''. | ||
Hindsight bias is the systematic tendency to retrospectively characterise events as more foreseeable than they actually are. | |||
This leads to individuals overestimating their ability to forecast future events. | |||
It is an important failing in poor risk management decisions, and poor investment decisions. | |||
==See also== | == See also == | ||
*[[ | * [[Behavioural economics]] | ||
*[[ | * [[Cognitive bias]] | ||
*[[ | * [[Dunning-Kruger effect]] | ||
* [[Objectivity]] | |||
* [[Optimism bias]] | |||
* [[Risk management]] | |||
* [[Self-investment bias]] | |||
* [[Self management and accountability]] | |||
* [[Working effectively with others]] | |||
[[Category:Self_management_and_accountability]] | |||
[[Category:Working_effectively_with_others]] | |||
[[Category:Investment]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:Risk_reporting]] |
Revision as of 14:27, 18 April 2020
Self management and accountability - working effectively with others - cognitive bias.
Hindsight bias is the systematic tendency to retrospectively characterise events as more foreseeable than they actually are.
This leads to individuals overestimating their ability to forecast future events.
It is an important failing in poor risk management decisions, and poor investment decisions.