On Parrondo's paradox: how to construct unfair games by composing fair games

2002/06/15 by E. S. Key, Key, E. S., M. Klosek +3 · 1 citation
Mathematics · #91A15 #FOS: Mathematics #Probability (math.PR) #math.PR #msc:91A15

paper · pdf · doi:10.48550/arxiv.math/0206151

10 figures

arxiv created 2002/06/15 · arxiv updated 2009/11/30

Abstract

We construct games of chance from simpler games of chance. We show that it may happen that the simpler games of chance are fair or unfavourable to a player andyet the new combined game is favourable -- this is a counter-intuitive phenomenoknown as Parrondo's paradox. We observe that all of the games in question are random walks in periodic environments (RWPE) when viewed on the proper time scale. Consequently, we use RWPE techniques to derive conditions under which Parrondo's paradox occurs.

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