Gambler's fallacy
 

 

Gambler's fallacy

The error that, in a series of independent chance events, future events can be predicted from past ones. For example, the idea that if, say, ten (fair) coin tosses have resulted in successive heads that there is an increased probability of a tails being thrown on the next toss, when the probability remains 50/50an almost compulsive tendency by actors to believe that some particular outcome, in this case tails, will become more likely in the face of a well-known and well-established statistical independence of the events.

 

(see also: Illusion of control, Representativeness heuristic, Conjunction fallacy, clustering illusion, Regression towards the mean, pattern-seeking)

 

Back to: Glossary A-Z

 

Glossary of selected Judgement & Decision-making, Belief-related, and other Psychology terms A-Z »

 

» Return to belief, judgement, and clear thinking »

  
 
Labels: Gambler's fallacy, Monte Carlo fallacy
The content on this page is provided by a Google Notebook user, and Google assumes no responsibility for this content.