You are obsessed with your favorite football team. However, because they have won seven games in a row, you think it too improbable that they will win the eighth game, and so you bet against them. This illustrates
A)hasty generalization.
B)the availability bias.
C)adjustment.
D)anchoring.
E)the gamblers fallacy.

Question

Quizplus · Accepted Answer

This scenario illustrates the gambler's fallacy, which is the belief that past events can influence the outcome of unrelated future events. In this case, the belief that the team is unlikely to win the eighth game based on their previous seven wins is a fallacy because the odds of winning each game are independent of each other. Betting against the team because of this belief is a classic example of the gambler's fallacy.

You Are Obsessed with Your Favorite Football Team