When people estimate that the odds of two uncertain events happening together are greater than the odds of either event happening alone, they are displaying the:
A)gambler's fallacy
B)overconfidence effect
C)conjunction fallacy
D)framing effect

Question

Quizplus · Accepted Answer

The conjunction fallacy is the tendency to overestimate the probability of a conjunction of events (i.e., event A AND event B) compared to the probability of either event A or event B alone. It goes against the rules of probability and logic. Option A, Gambler's fallacy, is the belief that the outcomes of a random event are influenced by the outcomes of previous, unrelated events. Option B, Overconfidence effect, is the tendency to have more confidence in one's own abilities and judgments than justified by the evidence. Option D, Framing effect, is the influence of the way a situation or choice is presented (i.e, framed) on our decision-making.

When People Estimate That the Odds of Two Uncertain Events