Rosy retrospection refers to the finding that subjects later rate past events more positively than they had actually rated them when the event occurred, reminiscent of the Latin phrase memoria praeteritorum bonorum ("The past is always recalled to be good").
The effect appears to be stronger with moderately pleasant events and is usually explained as a result of minor annoyances and dislikes "fading" from memory dramatically faster than positive situations.
Reference class forecasting was developed to eliminate or reduce the effect of rosy retrospection in decision making.
Read more about Rosy Retrospection: Experiments
Famous quotes containing the word rosy:
“In that November off Tehuantepec,
The slopping of the sea grew still one night
And in the morning summer hued the deck
And made one think of rosy chocolate
And gilt umbrellas.”
—Wallace Stevens (1879–1955)