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| 1971 || || Lichtenstein and Slovic study and experiment on the {{w|preference reversal}} inconsistency.<ref name="Atladóttir"/>
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| 1972 || || The '''Levels of Processing model''' is created by {{w|Fergus I. M. Craik}} and Robert S. Lockhart.<ref>Craik, F. I. M., & Lockhart, R. S. (1972). Levels of processing: A framework for memory research. Journal of Verbal Learning and Verbal Behavior, 11(6), 671.</ref>
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| 1973 || || {{w|Hindsight bias}}. {{w|Baruch Fischhoff}} attends a seminar where {{w|Paul E. Meehl}} states an observation that clinicians often overestimate their ability to have foreseen the outcome of a particular case, as they claim to have known it all along.<ref name="Fischhoff 2007">{{cite journal | last1 = Fischhoff | first1 = B | year = 2007 | title = An early history of hindsight research | url = | journal = Social Cognition | volume = 25 | issue = | pages = 10–13 | doi = 10.1521/soco.2007.25.1.10 | citeseerx = 10.1.1.365.6826 }}</ref>
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