Which belief describes the erroneous idea that the odds of a chance event increase if it hasn't occurred in a while?

The belief that the odds of a chance event increase if it hasn't occurred in a while is known as the gambler's fallacy. This cognitive error occurs when individuals mistakenly think that independent random events are influenced by previous occurrences. For example, in a coin toss, if a coin has landed on heads several times in a row, a person might believe that tails is "due" to occur next, even though each toss is independent, and the probabilities remain constant. This misunderstanding of probability can lead to poor decision-making in gambling and other scenarios involving chance. Understanding this concept is important in recognizing how faulty reasoning about probability can affect behavior and judgments.

The other beliefs listed do not pertain to this specific misunderstanding of probability and chance. Imagination inflation relates to the enhancement of confidence in false memories after imagining events. Infantile amnesia refers to the inability to retrieve memories from early childhood. Maintenance rehearsal is a memory technique to keep information in short-term memory without altering its form.