The gambler's fallacy stems from which of the following?
A) Hindsight bias
B) Confirmation bias
C) The availability heuristic
D) The sunk cost effect
E) The representativeness heuristic

Question

Quizplus · Accepted Answer

The gambler's fallacy is a belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa. This fallacy is related to the representativeness heuristic, where individuals expect outcomes to be representative of a random sequence, incorrectly assuming that the sequence should look "random" and that deviations from the average will be corrected.

The Gambler's Fallacy Stems from Which of the Following