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- W1551665500 abstract "We investigate the of small using a unique panel data set on lotto gambling. Because we can track individual players over time, we can measure how they react to outcomes of recent lotto drawings. We can therefore test whether they behave as if they believe they can predict lotto numbers based on recent drawings. While most players pick the same set of number week after week without regards of numbers drawn or anything else, we find that those who do change, act on average in the way predicted by the law of small numbers as formalized in recent behavioral theory. In particular, on average they move away from numbers that are on streak, i.e. have been drawn several weeks in a row, consistent with the hot hand fallacy." @default.
- W1551665500 created "2016-06-24" @default.
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- W1551665500 date "2011-01-01" @default.
- W1551665500 modified "2023-10-16" @default.
- W1551665500 title "Predicting Lotto Numbers" @default.
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- W1551665500 doi "https://doi.org/10.2139/ssrn.1797584" @default.
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