The authors review research on judgments of random and nonrandom sequences involving
binary events with a focus on studies documenting gambler's fallacy and hot hand beliefs …

OBJECTIVES: Extensive searches for the “hot hand” have been performed in a variety of
sports since the pioneering study of Gilovich, Vallone, and Tversky (1985), but empirical …

Statistical illiteracy can have an enormously negative impact on decision making. This
volume of collected papers brings together applied and theoretical research on risks and …

The “hot hand” belief in sports refers to the conviction that a player has a higher chance of
making a shot after two or three successful shots than after two or three misses (resulting in …

Combining brokerage records and matching monthly survey measurements of a sample of
individual investors from the Netherlands for the period April 2008 through March 2009, we …

People can appear inconsistent in their intuitions about sequences of repeated events.
Sometimes people believe such sequences will continue (the “hot hand”), and sometimes …

When predicting the next outcome in a sequence of events, people often appear to expect
streaky patterns, such as that sport players can develop a “hot hand,” even if the sequence is …

Optimism and fear are central determinants of individual investors' trading and risk-taking
behavior, but what makes investors optimistic or afraid? Using a unique combination of …

We provide evidence of disposition effect propensity for stock trading simulation participants
employing a contrarian versus a momentum strategy. We found that even subjects playing …

Gambling is a leisure activity, which is enjoyed by many people around the world. Among
these people, Chinese are known for their high propensity to gamble and are highly sought …