The thought that an event is not likely to occur based on the belief that there is a probable outcome with every situation. This thought process often leads to false assertions because circumstances can change thus altering the predicted outcome. For example, an investor may predict that a company's earnings will decline because they have increased for two consecutive quarters.
Related information about Gambler's fallacy:
- Gambler's fallacy - Wikipedia, the free encyclopedia
The Gambler's fallacy, also known as the Monte Carlo fallacy (because its most famous example happened in a Monte Carlo Casino in 1913), and also referred ...
- Fallacy: Gambler's Fallacy
The Gambler's Fallacy is committed when a person assumes that a departure from what occurs on average or in the long term will be corrected in the short term .
- Gambler's Fallacy Definition | Investopedia
When an individual erroneously believes that the onset of a certain random event is less likely to happen following an event or a series of events. This line of ...
- The Gambler's Fallacy
Describes and gives examples of the gambler's fallacy.
- gambler's fallacy - The Skeptic's Dictionary - Skepdic.com
Dec 9, 2010 ... The gambler's fallacy is the mistaken notion that the odds for something with a fixed probability increase or decrease depending upon recent ...
- Critical Thinking Part 5: The Gambler's Fallacy - YouTube
Dec 11, 2011 ... Part 5 of the TechNyou critical thinking resource. The resource covers basic logic and faulty arguments, developing student's critical thinking ...
- Gambler's fallacy - RationalWiki
Jun 9, 2012 ... The gambler's fallacy is the false belief that a random process becomes less random, and more predictable, as it is repeated. This is most ...
- The Gambler's Fallacy and the Hot Hand: Empirical Data ... - cbees
The gambler's fallacy is a belief in negative autocorrelation of a non- autocorrelated random ... If he believes in the gambler's fallacy, then after observing three ...