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People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …
We study the effect of school closures and the transition from on-site to on-line teaching during the Covid-19 pandemic in the Finnish upper secondary schools. To identify the effects we exploit …