HINDSIGHT BIAS AND STRATEGIC CHOICE: SOME PROBLEMS IN LEARNING FROM EXPERIENCE.
- 1 September 1988
- journal article
- Published by Academy of Management in The Academy of Management Journal
- Vol. 31 (3) , 628-641
- https://doi.org/10.2307/256462
Abstract
Knowing eventual outcomes often distorts later reevaluations of initial decisions. Does training in strategic decision making overcome such bias? In two experiments, advanced strategy students analyzing a complex business case were unable to ignore information concerning the outcomes of decisions made in a case and systematically distorted their evaluations of initial decisions and projections for the future. Research and practical implications are suggested.Keywords
This publication has 0 references indexed in Scilit: