The museum “is a radical place for artists to try new things for a diverse and engaged audience,” he told Observer.

He's got eight years' experience in the betting industry… The classic definition of the gambler’s fallacy, also known as the Monte Carlo fallacy, is the mistaken belief that past events can influence ...

[This article is excerpted from Economic Controversies, chapter 21, “The Fallacy of the ‘Public Sector’” (2011). It originally appeared in the New Individualist Review (Summer, 1961): 3–7. Editor’s ...

It would require more time and effort on your part if you do. The sunk cost fallacy causes people to stick with a failing decision just because they've already invested in it. Psychological biases ...