Who “Believes” in the Gambler’s Fallacy and Why?

@inproceedings{Farmer2017WhoI,
  title={Who “Believes” in the Gambler’s Fallacy and Why?},
  author={George D. Farmer and Paul A. Warren and Ulrike Hahn},
  booktitle={Journal of experimental psychology. General},
  year={2017}
}
Humans possess a remarkable ability to discriminate structure from randomness in the environment. However, this ability appears to be systematically biased. This is nowhere more evident than in the Gambler's Fallacy (GF)-the mistaken belief that observing an increasingly long sequence of "heads" from an unbiased coin makes the occurrence of "tails" on the next trial ever more likely. Although the GF appears to provide evidence of "cognitive bias," a recent theoretical account (Hahn & Warren… CONTINUE READING
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