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The Crossroads of Special Operations

Tuesday, April 20, 2021

Gambler’s fallacy: 5 examples and how to avoid it | Develop Good Habits

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Gambler’s fallacy is the false belief that past random outcomes influence future random outcomes. This can lead to poor decision making in the future or unpleasant surprises. Some of the most common scenes where Gambler’s fallacy occurs includes investing, security loans, flying, sports, and gambling. When making a decision based on an assumption or past occurrences, make sure to consider if your choice is based on gamblers fallacy.

Source: https://www.developgoodhabits.com/gamblers-fallacy/

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