Heuristics as beliefs and as behaviors: The adaptiveness of the "hot hand"

Gigerenzer (2000) and Anderson (1990) analyzed reasoning by asking: what are the reasoner's goals? This emphasizes the adaptiveness of behavior rather than whether a belief is normative. Belief in the "hot hand" in basketball suggests that players experiencing streaks should be given more shots, but this has been seen as a fallacy due to Gilovich, Vallone, and Tversky (1985) failure to find dependencies between players' shots. Based on their findings, I demonstrate by Markov modeling and simulation that streaks are valid allocation cues for deciding who to give shots to, because this behavior achieves the team goal of scoring more. Empirically I show that this adaptive heuristic is supported by the fallacious belief in dependency, more so as skill level increases. I extend the theoretical analysis to identify general conditions under which following streaks should be beneficial. Overall, this approach illustrates the advantages of analyzing reasoning in terms of adaptiveness. (C) 2003 Elsevier Inc. All rights reserved.