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Why do we experience a series of positive outcomes for a random event and tend to predict that future outcomes will also be positive?
in Artificial Intelligence by Diamond (47.9k points) | 21 views

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If you flip a coin for long enough, you are bound to have a long streak of heads. When unlikely but possible scenarios occur in the real world, as they inevitably do, people believe that this streak will continue to occur.

In a study designed to measure the extent of the fallacy, researchers manipulated a coin toss to make participants think that the person tossing the coin was on a winning streak. The participants predicted that the streak would continue if the same person kept on tossing the coin.

http://www.fallacyfiles.org/hothandf.html

by Diamond (47.9k points)

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