The main reason why people are vulnerable to the "gambler's fallacy" and other misperceptions about randomness is that

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 12P
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  1. The main reason why people are vulnerable to the "gambler's fallacy" and other misperceptions about randomness is that

      a.

    the (adaptive) costs of understanding randomness outweigh the benefits

      b.

    understanding randomness was not an important adaptive problem in ancestral environments

      c.

    probability theory is just too difficult for humans to understand

      d.

    it isn't possible in principle for natural selection to design such a mechanism

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