BIAS OF THE WEEK

Gambler's Fallacy

Lottery players tend not to bet on a number if it has recently been drawn

We believe that things occuring more than normal means they will occur less in future (& vice versa)

See the full study here :

Clotfelter, C.T., Cook, P.J. Lotteries in the real world. J Risk Uncertainty 4, 227–232 (1991). https://doi.org/10.1007/BF00114154

Want to know more about biases?

Identifiable Victim Bias

Misinformation Bias

Projection Bias

Single Option Aversion