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Gambler's fallacy - Wikipedia
https://en.wikipedia.org:443/wiki/Gambler%27s_fallacy
WEBThe gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if an event (whose occurrences are independent and identically distributed) has occurred more frequently than expected, it is less likely to happen again in the future (or vice versa).
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The Gambler’s Fallacy: What It Is and How to Avoid It
https://effectiviology.com:443/gamblers-fallacy/
WEBThe gambler’s fallacy is the mistaken belief that if an event occurred more frequently than expected in the past then it’s less likely to occur in the future (and vice versa), in a situation where these occurrences are independent of one another. For example, the gambler’s fallacy can cause someone to mistakenly assume that if a coin that ...
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Gambler's Fallacy: Overview and Examples - Investopedia
https://www.investopedia.com:443/terms/g/gamblersfallacy.asp
WEBSep 21, 2023 · Gambler's fallacy refers to the erroneous thinking that a certain event is more or less likely, given a previous series of events. It is also called the Monte...
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Gambler's fallacy - The Decision Lab
https://thedecisionlab.com:443/biases/gamblers-fallacy
WEBGambler’s fallacy refers to our belief that the probability of a random event occurring in the future is influenced by the past history of that type of event occurring. Why it happens First, we don’t like randomness.
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Gambler’s Fallacy: Overview & Examples - Statistics by Jim
https://statisticsbyjim.com:443/basics/gamblers-fallacy/
WEBThe gambler’s fallacy is a cognitive bias that occurs when people incorrectly believe that previous outcomes influence the likelihood of a random event happening. The fallacy assumes that random events are “due” to balance out over time.
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Gambler's Fallacy - Psychology - Oxford Bibliographies
https://www.oxfordbibliographies.com:443/abstract/document/obo-9780199828340/obo-9780199828340-0027.xml
WEBMay 17, 2016 · In other words, the Gambler’s Fallacy is the belief that a “run” or “streak” of a given outcome lowers the probability of observing that outcome on the next trial. The Gambler’s Fallacy is one of several biases or errors found …
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Gambler’s Fallacy: Explanation and Examples
https://philosophyterms.com:443/gamblers-fallacy/
WEBIn summary, the Gambler’s Fallacy is the incorrect belief that past random events can predict the future in a way that ‘balances’ outcomes. It can misguide us in many situations, leading to decisions that are not based on reality.
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Gambler’s Fallacy - Practical Psychology
https://practicalpie.com:443/gamblers-fallacy/
WEBOct 29, 2023 · What Is The Gambler’s Fallacy? The gambler's fallacy is a bias in which we let past events influence our decisions and predictions about what will happen next. But this bias is based on fallacy or a mistaken belief. Each action is independent of the actions before it.
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What Is the Gambler's Fallacy? - ThoughtCo
https://www.thoughtco.com:443/what-is-a-gamblers-fallacy-1690884
WEBUpdated on November 18, 2019. A fallacy in which an inference is drawn on the assumption that a series of chance events will determine the outcome of a subsequent event. Also called the Monte Carlo fallacy, the negative recency effect, or the fallacy of the maturity of chances .
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How The Bias Known As Gambler's Fallacy Affects Our Lives
https://www.npr.org:443/2015/12/29/461352879/how-the-bias-known-as-gamblers-fallacy-effects-our-lives
WEBDec 29, 2015 · How The Bias Known As Gambler's Fallacy Affects Our Lives. December 29, 20155:11 AM ET. Heard on Morning Edition. Shankar Vedantam. 4-Minute Listen. Playlist. The fallacy is that we are...
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