The Hindsight Bias Refers to People's Tendency to

question 22

Multiple Choice

The hindsight bias refers to people's tendency to

• A) overestimate their own predictions of an event after the event occurs.
• B) underestimate their own predictions of an event after the event occurs.
• C) remember the early items in a list better than the later items in a list.
• D) devalue events that have already taken place and failed to live up to their expectations.

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Definitions:

Compulsory Licence

A directive by the Commissioner of Patents requiring the patentee to license others to produce a product for the general benefit of the public.

Beneficiary

A person designated to receive benefits from an insurance policy, trust, or will upon certain conditions, such as the death of the policyholder.

Patent Holder

An individual or entity that legally owns the rights to an invention or process granted by a patent.

Patent Pending

A status indicating that a patent application has been filed but not yet granted.