Making the gambler's fallacy disappear
Subtitle: the role of experience
By: Gregory M. Barron and Stephen Leider
Contributors: Leider, Stephen; Harvard Business School
Series: Working paper / Harvard Business School -- 09-029; Working paper (Harvard Business School) -- 09-029
Publisher: Harvard Business School
Published: 2008
Place of publication: Boston
Language: eng
Number of pages: 23
Description: Recent papers have demonstrated that the way people acquire information about a decision problem, by experience or by abstract description, can affect their behavior. We examine the role of experience over time in the emergence of the Gambler's Fallacy in binary prediction tasks. Theories of the Gambler's Fallacy and models of binary prediction suggest that recency bias, elicited by experience over time, may be necessary for the fallacy to emerge.
Notes: "September 2008 "--Publisher's web site.

Includes bibliographical references.