The paradox of Parrondo's games

@article{Harmer2000ThePO,
  title={The paradox of Parrondo's games},
  author={Gregory Peter Harmer and Derek Abbott and Peter G. Taylor},
  journal={Proceedings of the Royal Society of London. Series A: Mathematical, Physical and Engineering Sciences},
  year={2000},
  volume={456},
  pages={247 - 259}
}
  • G. Harmer, D. Abbott, P. Taylor
  • Published 8 February 2000
  • Economics
  • Proceedings of the Royal Society of London. Series A: Mathematical, Physical and Engineering Sciences
We introduce Parrondo's paradox that involves games of chance. We consider two fair games, A and B, both of which can be made to lose by changing a biasing parameter. An apparently paradoxical situation arises when the two games are played in any alternating order. A winning expectation is produced, even though both games A and B are losing when we play them individually. We develop an explanation of the phenomenon in terms of a Brownian ratchet model, and also develop a mathematical analysis… 

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