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    Why three heads are a better bet than four: a reply to Sun, Tweney, and Wang (2010)

    Hahn, Ulrike and Warren, P.A. (2010) Why three heads are a better bet than four: a reply to Sun, Tweney, and Wang (2010). Psychological Review 117 (2), pp. 706-711. ISSN 0033-295X.

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    Abstract

    We (Hahn & Warren, 2009) recently proposed a new account of the systematic errors and biases that appear to be present in people’s perception of randomly generated events. In a comment on that article, Sun, Tweney, and Wang (2010) critiqued our treatment of the gambler’s fallacy. We had argued that this fallacy was less gross an error than it might at first appear, once the nature of people’s actual experience was taken into account. In support of this claim, we had advanced a series of interconnected arguments. One of these involved a betting game that seemed extremely similar to the gambler’s fallacy but that nevertheless involved a winning strategy. Sun et al. challenged the idea of this game, arguing that we had failed to take its context into account. Here, we implement the original game, demonstrate that it indeed involves a winning strategy as originally claimed, and identify where Sun et al.’s critique went wrong. Finally, key aspects of our general proposal are clarified in light of Sun et al.’s comments.

    Metadata

    Item Type: Article
    School: Birkbeck Schools and Departments > School of Science > Psychological Sciences
    Research Centre: Birkbeck Knowledge Lab
    Depositing User: Administrator
    Date Deposited: 09 May 2013 09:54
    Last Modified: 02 Dec 2016 13:39
    URI: http://eprints.bbk.ac.uk/id/eprint/6619

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