But in fact, money is complicated. Nothing makes this clearer than looking at the ways in which we're subject to cognitive biases — the way our brains sneakily convince us to make decisions that ...

A cognitive bias is a mental shortcut or heuristic intended to spare us time, effort, or discomfort—often while reinforcing our self-image or worldview—but at the cost of accuracy and reliability.

Enke, Benjamin, Uri Gneezy, Brian Hall, David Martin, Vadim Nelidov, Theo Offerman, and Jeroen van de Ven. "Cognitive Biases: Mistakes or Missing Stakes?" Harvard Business School Working Paper, No. 21 ...

Hindsight bias occurs when you overestimate your ability to judge the outcome of a situation that already happened. "This is a type of distorted thinking and is one of the common cognitive biases ...