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The Gambler’s Fallacy: Why We Believe Luck Has a Pattern

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Manage episode 448027358 series 3610201
Content provided by Randall Chesnutt. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Randall Chesnutt or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Why do we sometimes feel like luck is just around the corner after a streak of bad outcomes? In this episode of Mind Theory, we explore the Gambler’s Fallacy, a cognitive bias that leads people to believe that past random events can influence future ones. From blackjack tables to business decisions, we’ll dive into how this misconception about probability shapes behavior and why our brains are wired to see patterns, even when they don’t exist. Tune in to discover how understanding the Gambler’s Fallacy can help you make better decisions, avoid superstitions, and stop relying on “lucky” patterns.

  continue reading

95 episodes

Artwork
iconShare
 
Manage episode 448027358 series 3610201
Content provided by Randall Chesnutt. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Randall Chesnutt or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Why do we sometimes feel like luck is just around the corner after a streak of bad outcomes? In this episode of Mind Theory, we explore the Gambler’s Fallacy, a cognitive bias that leads people to believe that past random events can influence future ones. From blackjack tables to business decisions, we’ll dive into how this misconception about probability shapes behavior and why our brains are wired to see patterns, even when they don’t exist. Tune in to discover how understanding the Gambler’s Fallacy can help you make better decisions, avoid superstitions, and stop relying on “lucky” patterns.

  continue reading

95 episodes

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