When negotiating the price of an item we are often swayed when we feel we’re getting a bargain.
The hindsight bias refers to a person's belief and tendency of having predicted the outcome of an event when, in reality, there was no sure way of knowing the outcome.
According to an article in Psychology Today by Shahram Heshmat Ph.D., “Confirmation bias occurs from the direct influence of desire on beliefs.
A company might announce a string of great quarterly earnings. As a result, you assume the next earnings announcement will probably be great, too.
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