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Question
In the 1990s, researchers Clotfelter, Cook, and Terrel analyzed data from a particular game of chance that was offered in both the Maryland and New Jersey state lotteries. In the game, participants placed a bet and then guessed a three-digit number. After all bets had been placed, a three-digit number was randomly drawn by state lottery representatives. If a bettor correctly guessed the number drawn, the bettor won a large prize. The researchers found clear evidence that lottery players bet less on a number that had won in the recent past. This finding indicates that the ________ fallacy is not at work.
a. hot-hand
b. gamblers
c. casinos
d. genetic
e. naturalistic
Answer
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