Cognitive bias

Alternative paths

Also known as: Ignoring counterfactual risk
Occasional#102 of 131 by how common ← All cognitive biases
Dobelli #39

What it is

Judging a risky choice only by what happened, not by the other outcomes that could have happened. Surviving Russian roulette does not make it safe.

Example A risky bet that paid off is called a wise decision.

Related

Appears in

References

More in “Numbers, probability and prediction”