In the 1990s,researchers Clotfelter,Cook,and Terrel analyzed data from a particular game that was offered in both the Maryland and New Jersey state lotteries.In the game,participants place a bet and then guess a three-digit number.After all bets have been placed,a three-digit number is randomly drawn by state lottery representatives.If a bettor correctly guesses the number drawn,he or she wins a large prize.Consistent with the ________ fallacy,the researchers found clear evidence that lottery players bet less often on a number that had won in the recent past.
A) hot-hand
B) gambler's
C) casino's
D) genetic
E) naturalistic

Question

Quizplus · Accepted Answer

The correct answer is the gambler's fallacy, which is the mistaken belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa. In the context of the lottery, players incorrectly assumed that a number that had recently won was less likely to win again soon.

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