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date: 19 June 2021

Abstract and Keywords

The hindsight bias is one of the first cognitive biases to be documented by psychologists, and to be studied by legal scholars employing a behavioral perspective. This chapter presents a review of the main findings documenting the prevalence of the hindsight bias in judicial decision-making. Based on this review, it then analyzes the different ways in which legal systems as well as contracting parties deal with the bias, and highlights potential paths for future empirical and theoretical studies.

Keywords: hindsight bias, behavioral law and economics, judicial decision-making, debiasing, negligence, tort law

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