![]() ![]() An example of this is a 99:1 bet in which you almost always win, but when you lose, you lose all your savings. Many real life phenomena are not 50:50 bets like tossing a coin, but have various unusual and counter-intuitive distributions. We see the winners and try to learn from them, while forgetting the huge number of losers. ![]() Other misperceptions of randomness that are discussed include: So they look for explanations even when there are none.
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