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Which bias impacts the way individuals perceive their successes and failures?

  1. Self-serving Bias

  2. Confirmation Bias

  3. Groupthink

  4. Hindsight Bias

The correct answer is: Self-serving Bias

The self-serving bias significantly influences how individuals interpret their successes and failures. This cognitive bias leads people to attribute positive outcomes, such as achievements and successes, to their own abilities or efforts. Conversely, when facing failures or negative outcomes, individuals are likely to attribute these to external factors or circumstances beyond their control. This tendency allows individuals to maintain a positive self-image and protects their self-esteem. In contrast, confirmation bias is the tendency to seek out or interpret information that confirms one's preexisting beliefs, while groupthink involves reaching a consensus in a group setting that can suppress individual opinions. Hindsight bias refers to the inclination to see events as having been predictable after they have already occurred. Although these biases influence perception in various ways, they do not specifically address the personal attribution of successes and failures as effectively as self-serving bias does.