Abstract

The present study tests a gestalt explanation for the gambler's fallacy which posits that runs in random events will be expected to reverse only when the run is open or ongoing. This is contrasted with the law of small numbers explanation suggesting that people expect random outcomes to balance out generally. Sixty-one university students placed hypothetical guesses and bets on a series of coin tosses. Either heads or tails were dominant . In a closed run condition the run ended prior to the critical trial , and in an open run condition the run remained open . As hypothesised, participants showed the gambler's fallacy in the open run condition, but not in the closed run condition. This difference is not due to differential memory for the outcomes. Men, and people with more previous experience gambling, were also found to be more prone to the gambler's fallacy. It is argued that the gestalt explanation best explains the results