Sunday, 23 June 2013

Law of Randomness

       Another mistaken notion connected with the law of large numbers is the idea that an event is more or less likely to occur because it has or hasn't happened recently. The idea that the odds of an event with a fixed probability increase or decrease depending on recent occurrences of the event is called the gamblers fallacy.

     That's what is at the root of such ideas as 'her luck has run out' or 'he is due'. That does not happen. For what it's worth a good streak doesn't jinx you and a bad one, unfortunately, does not mean better luck is in store.

The Drunkards Walk ; How Randomness Rules Our Lives
Leonard Mlodinow

Saurav Mohapatra

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