The Gambler’s Fallacy is the reverse of the Hot Hand Fallacy. While the latter expects the continuation of trend, the former assumes that just because something has happened, the chances of it happening have decreased while in reality there is no change in the odds. For example, if a coin is tossed six times and it turns up heads all six times, a gambler might say it’ll turn tails now. The odds, of course, remain 50%.
Nudge › How is a self-improvement project. The idea is to share small, actionable steps to help others lead a better, more balanced life. Mental Models are heuristics or thought patterns that help make sense of the world. This collection has minimal illustrations describing mental models. These are a part of our content stream on Instagram. We also have a newly minted Discord where we come together to discuss ideas!
Gambler's Fallacy
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The Gambler’s Fallacy is the reverse of the Hot Hand Fallacy. While the latter expects the continuation of trend, the former assumes that just because something has happened, the chances of it happening have decreased while in reality there is no change in the odds. For example, if a coin is tossed six times and it turns up heads all six times, a gambler might say it’ll turn tails now. The odds, of course, remain 50%.
Nudge › How is a self-improvement project. The idea is to share small, actionable steps to help others lead a better, more balanced life. Mental Models are heuristics or thought patterns that help make sense of the world. This collection has minimal illustrations describing mental models. These are a part of our content stream on Instagram. We also have a newly minted Discord where we come together to discuss ideas!