Posts Tagged ‘monte carlo fallacy’

The Gambler’s Fallacy or the Monte Carlo Fallacy

Saturday, May 8th, 2010

The Monte Carlo fallacy also Gambler’s fallacy is the idea that deviation from normal behaviour are seen in repetitive trials of a random event then these uncommon event are expected to balance out by an opposing deviation in the upcoming event. For example, a coin is flipped again and again and tails come up a [...]