In the 1990s,researchers Clotfelter,Cook,and Terrel analyzed data from a particular game of chance that was offered in both the Maryland and New Jersey state lotteries.In the game,participants placed a bet and then guessed a three-digit number.After all bets had been placed,a three-digit number was randomly drawn by state lottery representatives.If a bettor correctly guessed the number drawn,the bettor won a large prize.The researchers found clear evidence that lottery players bet less on a number that had won in the recent past.This finding indicates that the ________ fallacy is not at work.
A) hot-hand
B) gambler's
C) casino's
D) genetic
E) naturalistic

Question

Quizplus · Accepted Answer

The researchers found that players were less likely to bet on a number that had won in the recent past, indicating that they were not falling for the hot-hand fallacy, which is the belief that a winning streak will continue.

In the 1990s,researchers Clotfelter,Cook,and Terrel Analyzed Data from a Particular