|Overview: Gambler's Fallacy|
The belief that an independent random event is influenced by the past.
What is the Gambler's Fallacy?
John Spacey, updated on March 06, 2023
Gambler's fallacy is the mistaken belief that a random occurrence becomes less likely after it has just occurred. For example, if you flip a coin and tails appears three times in a row it is common to believe that heads is becoming more likely, when in fact the odds remain fixed. In some cases, the fallacy is reversed and a person believes that tails becomes more likely after a few in a row.
Cognitive BiasesThis is the complete list of articles we have written about cognitive biases.
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