Occurrence and nonoccurrence of random sequences: comment on Hahn and Warren (2009).

On the basis of the statistical concept of waiting time and on computer simulations of the "probabilities of nonoccurrence" (p. 457) for random sequences, Hahn and Warren (2009) proposed that given people's experience of a finite data stream from the environment, the gambler's fallacy is not as gross an error as it might seem. We deal with two critical… CONTINUE READING