Gambler's fallacy | Independence (probability theory), Stochastic process, Fair coin, Informal fallacy, Law of averages, Exchangeable random variables, Inverse gambler's fallacy

Frederic P. Miller (u. a.)

ISBN 10: 6130281404 / ISBN 13: 9786130281403

Published by OmniScriptum, 2026

About this Item

Gambler's fallacy | Independence (probability theory), Stochastic process, Fair coin, Informal fallacy, Law of averages, Exchangeable random variables, Inverse gambler's fallacy | Frederic P. Miller (u. a.) | Taschenbuch | Englisch | 2026 | OmniScriptum | EAN 9786130281403 | Verantwortliche Person für die EU: preigu GmbH & Co. KG, Lengericher Landstr. 19, 49078 Osnabrück, mail[at]preigu[dot]de | Anbieter: preigu Print on Demand.

Seller Inventory # 101375698

Bibliographic Details

• Title: Gambler's fallacy | Independence (probability theory), Stochastic process, Fair coin, Informal fallacy, Law of averages, Exchangeable random variables, Inverse gambler's fallacy
• Publisher: OmniScriptum
• Publication Date: 2026
• Language: English
• ISBN 10: 6130281404
• ISBN 13: 9786130281403
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 220W x 150H x 5D millimeters 220 millimeters width by 150 millimeters height by 5 millimeters depth
• Weight: 131 grams
• Seller catalogs:
  • Bücher

About this title

Synopsis

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online.The gambler''s fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that if deviations from expected behaviour are observed in repeated independent trials of some random process then these deviations are likely to be evened out by opposite deviations in the future. For example, if a fair coin is tossed repeatedly and tails comes up a larger number of times than is expected, a gambler may incorrectly believe that this means that heads is more likely in future tosses. Such an expectation could be mistakenly referred to as being due. This is an informal fallacy. It is also known colloquially as the law of averages. The gambler''s fallacy implicitly involves an assertion of negative correlation between trials of the random process and therefore involves a denial of the exchangeability of outcomes of the random process. The inverse gambler''s fallacy is the belief that an unlikely outcome of a random process (such as rolling double sixes on a pair of dice) implies that the process is likely to have occurred many times before reaching that outcome.