Tagged: law of small numbers

The Law of small numbers

Amos and I called our first joint article “Belief in the Law of Small Numbers.” We explained, tongue-in-cheek, that “intuitions about random sampling appear...

Behavioral Economics

The Gambler’s Fallacy: odds are not in your favor

Play interests me very much,” said Hermann: “but I am not in the position to sacrifice the necessary in the hope of winning the...