The term “gambler’s fallacy” was first coined by Amos Tversky and Daniel Kahneman, two pioneers of behavioural economics, in the 1970s. They studied how this false belief distorts human ...

This is the most straightforward example of a gambler’s fallacy. If a coin was to be tossed 10 times, you may be predisposed to think that it would land on tails roughly half of the time.

The motte-and-bailey fallacy is kind of like a reverse strawman. Instead of the arguer making their opponent’s reasonable argument seem absurd, they instead make their own absurd argument seem ...

An example would be, “95% of school toppers who own a smartphone, have Android phones” (This isn’t true, we just made that up) The fallacy here is to slyly propose that the Android OS has ...

Watzek said she wanted to study monkey decision making to better understand why humans fall for the sunk cost fallacy. "Studying animals can help us better understand the flaws that make us human ...

Example of the Sunk Cost Fallacy Assume an investor buys $10,000 worth of a stock valued at $100 per share.