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Type: Journal article
Title: On Parrondo's paradox: How to construct unfair games by composing fair games
Author: Key, E.
Klosek, M.
Abbott, D.
Citation: Australia and New Zealand Industrial and Applied Mathematics (ANZIAM) Journal, 2006; 47(PN Part 4):495-511
Publisher: Australian Mathematical Society
Issue Date: 2006
ISSN: 1446-1811
Statement of
E. S. Key, M. M. Klosek and D. Abbott
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 and yet the new combined game is favourable—this is a counter-intuitive phenomenon known 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.
Description: © Australian MS
DOI: 10.1017/S1446181100010099
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Electrical and Electronic Engineering publications

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