What are the hot hand fallacy and the gamblers fallacy, International Economics

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What are the hot hand fallacy and the gamblers fallacy

Problem

1. What is bounded rationality? How is this concept relevant to economic modeling?
2. What are the hot hand fallacy and the gambler's fallacy? Give an example of each.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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