Hindsight bias: Impaired memory or biased reconstruction?

@inproceedings{Stahlberg1996HindsightBI,
  title={Hindsight bias: Impaired memory or biased reconstruction?},
  author={Dagmar Stahlberg and Anne Maass},
  year={1996}
}
The hindsight bias is the tendency for people to believe falsely that they would have predicted the outcome of an event, once the outcome is known. Although there is a rich literature on hindsight distortions, the underlying mechanisms are not yet fully understood. The present paper addresses the question whether hindsight distiortions represent the result of memory impairment or biased reconstruction processes. The majority of studies presented support the biased reconstruction view… 
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TLDR
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TLDR
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Hindsight bias is a robust phenomenon; it has been found with different designs, materials, and measures. However, several methodological problems may hinder an adequate analysis and interpretation…
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TLDR
The results support a multiprocess explanation of hindsight bias in children and show that the youngest group showed memory impairment caused by the presentation of the correct answers as well as an increased belief that they knew the correct Answers all along.
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References

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TLDR
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