I-Knew-It-All-Along Phenomenon (Hindsight Bias)

Can you predict who is going to win the NCAA basketball tournament or the next presidential election? After it is over, would you say "I knew that team (or that person) was going to win"? If so, you are demonstrating the I-knew-it-all-along phenomenon in which people tend to believe they would have foreseen how something turned out, after learning the outcome. As they say, "hindsight is 20-20."

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