Hindsight-Bias im Prinzipal-Agent-Kontext: Die Aktennotiz als Antwort?

In a principle agent relation, the principle might be enclined to controll the agent`s choice after the result of the choice has turned out to be unsatisfactory. Such a controll requires the priciple to reconsider the original choice problem the agent faced. We know from literature from social psychology that the hindsight bias disturbes the recollection of of ex ante probability judgements towards the true outcome. In our paper we study the implication of the hindsight bias for the principle agent relation. In case the agent anticipates the principle`s hindsight bias, she might be choose suboptimal alternatives. We discuss if writing a memo can help to cope with the bias.