gamblers fallacy
The gambler's fallacy refers to the mistaken belief that if something happens more frequently than normal during a specific period, it will occur less frequently in the future, or vice versa, leading to incorrect predictions in games of chance or random events.
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Related Concepts (21)
- blackjack
- casino games
- chance
- cognitive biases
- coin toss
- decision-making
- gambler's fallacy in finance
- gambler's ruin
- gambling addiction
- lottery
- martingale strategy
- monte carlo simulations
- poker
- probability theory
- randomness
- risk assessment
- roulette
- slot machines
- sports betting
- statistical analysis
- texas sharpshooter fallacy
Similar Concepts
- all-or-nothing fallacy
- appeal to probability fallacy
- bandwagon fallacy
- circular reasoning fallacy
- gambler's fallacy
- gamblers' fallacy
- genetic fallacy
- overconfidence
- overconfidence bias
- overconfidence effect
- planning fallacy
- regression fallacy
- slippery slope fallacy
- statistical fallacies
- statistical fallacy