Outcome Bias

Outcome bias is a cognitive bias where there's an excessive focus on the results of past events, affecting decision making. This bias can lead to a preference for scenarios that were previously successful, ignoring unique factors of new situations. It can result in suboptimal decisions by not considering all potential options. The bias emphasizes certain information over a comprehensive view of available data.

What is outcome bias primarily concerned with?

• The process of decision-making

• The speed of decision-making

• The outcome of past events

• The fairness of a decision

How can outcome bias affect decision-making?

• By improving decision speed

• By promoting fairness

• By encouraging creativity

• By causing a focus on past successful scenarios

What can excessive focus on past results lead to?

• A bias against previously unsuccessful scenarios

• A decrease in cognitive bias

• A balanced view of all options

• An increase in decision-making speed

What is a potential consequence of not considering all options in decision-making?

• Suboptimal results

• Increased creativity

• Faster decision-making

• Optimal results

What type of bias is outcome bias considered to be?

• An emotional bias

• A social bias

• A physical bias

• A cognitive bias