Abstract

Hindsight bias – also known as the knew-it-all-along effect – is a ubiquitous judgment error affecting decision makers. Hindsight bias has been shown to vary across age groups and as a function of contextual factors, such as the decision maker’s emotional state. Despite theoretical reasons why emotions might have a stronger impact on hindsight bias in older than in younger adults, age differences in hindsight bias for emotional events remain relatively underexplored. We examined emotion and hindsight bias in younger and older adults (N = 272) against the backdrop of the 2020 U.S. presidential election. Participants predicted electoral college votes for the two presidential candidates before the election and were asked to remember their predictions approximately three weeks later, after the election results had been finalised. Republicans, for whom the electoral outcome was negatively tinged, exhibited greater hindsight bias for President Biden’s result compared with Democrats, for whom the electoral outcome was positive. The asymmetry in hindsight bias between Republicans and Democrats was similar for younger and older participants. This study suggests that negative emotions may exacerbate hindsight bias, and that adult age differences in hindsight bias observed in laboratory settings may not translate to real-world contexts.