Bleaney, Michael; Bougheas, Spiros; Li, Zhiyong - Centre for Decision Research and Experimental Economics … - 2014
Research in both economics and psychology suggests that, when agents predict the next value of a random series, they frequently exhibit two types of biases, which are called the gambler’s fallacy (GF) and the hot hand fallacy (HHF). The gambler’s fallacy is to expect a negative...