Can Two Wrongs Make a Right? Coin-Tossing Games and Parrondo’s Paradox

@article{Percus2002CanTW,
title={Can Two Wrongs Make a Right? Coin-Tossing Games and Parrondo’s Paradox},
author={O. E. Percus and J. Percus},
journal={The Mathematical Intelligencer},
year={2002},
volume={24},
pages={68-72}
}

Background On frequent occasions, a logical oddity comes along, which attracts a sizeable audience. One of the most recent is known as Parrondo's paradox [5, 6]. Briefly, it is the observation that random selection (or merely alternation) of the playing of two asymptotically losing games* can result in a winning game. Conceptually similar situations involving only the processing of statistical data are not novel. What has been referred to as Simpson's paradox [8] is typified by this scenario… CONTINUE READING