Johnson, Joseph; Tellis, Gerard J.; Macinnis, Deborah J. - In: Journal of Consumer Research 32 (2005) 2, pp. 324-329
When faced with sequential information, consumers tend to fall prey to one of two well-known heuristics: the hot (or cold) hand and the gambler's fallacy. The authors relate these two traditionally separate heuristics to differences in accepting (buy) versus rejecting (sell) decisions. They...