noun a tendency to judge a decision based on its outcome rather than the quality of the decision-making process
Outcome bias is a cognitive bias where the outcome of a decision influences how the decision is perceived, regardless of the quality of the decision-making process.
In the legal field, outcome bias can affect how judges and juries assess the actions of individuals, leading to unjust outcomes based solely on the end result.
In economics, outcome bias can lead to overlooking poor decision-making processes if the outcome is favorable, leading to potential financial risks.
Outcome bias can impact business management by causing leaders to focus solely on results rather than the process that led to those results, potentially hindering long-term success.
Writers may use outcome bias when evaluating the success of their work. They may focus more on the outcome or reception of their writing rather than the process or effort that went into creating it.
Psychologists may be aware of outcome bias when working with clients. They may need to be mindful of how clients' perceptions of outcomes can influence their beliefs and decision-making.
Financial analysts may encounter outcome bias when evaluating investment decisions. They may need to consider how past investment outcomes can influence future decisions, even if the initial decision was based on faulty reasoning.
Marketing managers may use outcome bias when analyzing the success of marketing campaigns. They may focus on the positive outcomes of a campaign, even if the initial strategy was flawed or the results were influenced by external factors.