Gambler's conceit is the fallacy described by behavioral economist David J. Ewing where a gambler believes they will be able to stop a risky behavior while still engaging in it. The gambler's conceit frequently works in conjunction with the gambler's fallacy, the mistaken idea that a losing streak in a game of chance, such as roulette, has to come to an end or is lowered because the frequency of one event has an effect on a following independent event.
Gambler's conceit is the fallacy described by behavioral economist David J. Ewing where a gambler believes they will be able to stop a risky behavior while still engaging in it. The gambler's conceit frequently works in conjunction with the gambler's fallacy, the mistaken idea that a losing streak in a game of chance, such as roulette, has to come to an end or is lowered because the frequency of one event has an effect on a following independent event.
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