Final answer:
In the story 'An Occurrence at Owl Creek Bridge', the phrase 'cowards hope' serves the hangman by representing the main character's desperate attempt to escape his fate.
Step-by-step explanation:
The phrase 'cowards hope' serves the hangman best in the context of the story 'An Occurrence at Owl Creek Bridge' by Ambrose Bierce. In the story, the main character, Farquhar, is about to be hanged for attempting to sabotage a railroad bridge. As he is about to be executed, he imagines a heroic escape where he overpowers the guards and survives. However, this escape is just a figment of his imagination, and in reality, he is already dead, fulfilling the hangman's purpose. The 'cowards hope' represents Farquhar's desperate attempt to escape his fate by imagining a better outcome.