Hindsight Bias

Have you ever experienced the I-knew-it-all-along phenomenon? Well, I have. This phenomenon is quite prominent in every day life, and being aware of its existence is interesting. For an example: you give half the participants in a survey group a research finding, and the other half an opposing result. You tell the first half of participants, "Researchers have found that separation weakens romantic attraction. As the saying goes, 'Out of sight, out of mind.'" Ask them to think of how this is true. (Why might this be true?) However, you tell the second half of participants in the survey group the exact opposite. You say, "Researchers have found that separation strengthens romantic attraction. As the saying goes, 'Absence makes the heart grow fonder.'" Ask them to think how this is also true (do you see how this could be additionally true?). Participants in the research group can easily explain both of these results and find them equally true. Most attribute it to unsurprising common sense. Do you see the hindsight bias, the oh, I knew that all along! This tendency to believe, after learning the outcome, that one would have foreseen it is called hindsight bias (Myers). Isn't this phenomenon interesting? Do you know any times in your life this has happened? What do you think?