The gambler's fallacy involves the belief that a conditioned probability exists between an event and the previous one when the two events are independent.
Is it true that the gambler's fallacy involves the belief that a conditioned probability exists between an event and the previous one when the two events are independent?
Yes. The gambler's fallacy is a well-documented cognitive bias wherein individuals incorrectly assume that a conditional probability exists between independent random events.
Verdict: SUPPORTED · 5 sources for, 0 against · Last checked
The retrieved literature consistently defines and examines the gambler's fallacy as a cognitive bias regarding independent events (such as coin tosses or roulette outcomes), where individuals expect subsequent events to compensate for past outcomes despite statistical independence. Multiple papers (e.g., [0], [4], [9]) directly support this definition.
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Sundali, J. & Croson, R. (2006). Biases in casino betting: The hot hand and the gambler’s fallacy. doi.org. https://doi.org/10.1017/s1930297500000309
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G, X., Z, L., IP, L., & A, B. (2011). An fMRI study of risk-taking following wins and losses: implications for the gambler's fallacy.. doi.org. https://doi.org/10.1002/hbm.21015
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Sun, Y. & Wang, H. (2010). Gambler’s fallacy, hot hand belief, and the time of patterns. doi.org. https://doi.org/10.1017/s193029750000098x
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M, S., SA, C., C, B., & S, T. (2017). Cognitive distortions among older adult gamblers in an Asian context.. doi.org. https://doi.org/10.1371/journal.pone.0178036
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Rao, K. & Hastie, R. (2023). Predicting Outcomes in a Sequence of Binary Events: Belief Updating and Gambler's Fallacy Reasoning. doi.org. https://doi.org/10.1111/cogs.13211
What does the evidence say?
The retrieved literature consistently defines and examines the gambler's fallacy as a cognitive bias regarding independent events (such as coin tosses or roulette outcomes), where individuals expect subsequent events to compensate for past outcomes despite statistical independence. Multiple papers (e.g., [0], [4], [9]) directly support this definition.
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