Hot-hand fallacy — The "hot-hand fallacy" (also known as the "hot hand phenomenon" or "hot hand") is the belief that a person who has experienced success with a random event has a greater chance of further success in additional attempts.

Often we are faced with situations where our intuition misguides us. Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. Many of these biases affect belief formation, business and economic decisions, and human behavior in general.