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Losses and External Outcomes Interact to Produce the Gambler’s Fallacy

Description:

When making serial predictions in a binary decision task, there is a clear tendency to assume that after a series of the same external outcome (e.g., heads in a coin flip), the next outcome will be the opposing one (e.g., tails), even when the outcomes are independent of one another....

Keyword:

gambler's fallacy

Creator:

Satoru Suzuki, Julia A. Mossbridge, and Christopher J.R. Roney

Owner:

Chris Diaz

Publisher:

PLOS

Date Uploaded:

05/10/2017

Date Modified:

05/10/2017

Date Created:

2017-01-27

Resource Type:

Article

Alternate Identifier:

https://doi.org/10.1371/journal.pone.0170057