3min chapter

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#596: The Mystery, Science, and Life-Changing Power of the Hot Hand

The Art of Manliness

CHAPTER

The Gambler's Fallacy

When we think we're in control, we have the hot hand. When we recognize that we're not, we bet accordingly. The gambler's fallacy has huge impacts on our decision making as much as the hot hand. Baseball umpires are less likely to call a close pitch a third strike if they've called it two or three times before. An asylum judge essentially has some one else's life in their and because they are trying to even out the streak,  they don't want to encourage a hot hand.

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