Before revision: In the context of a sequential search problem, I explore large-generations learning dynamics for agents who suffer from the "gambler's fallacy  " - the statistical bias of anticipating too much regression to the mean for realizations of independent random events.
After revision: I study endogenous learning dynamics for agents who suffer from the "gambler's fallacy " - the statistical bias of anticipating too much regression to the mean for realizations of independent random events.