Parrondo's capital and history-dependent games
Date
2005
Authors
Harmer, G.
Abbott, D.
Parrondo, J.
Editors
Nowak, A.
Szajowski, K.
Szajowski, K.
Advisors
Journal Title
Journal ISSN
Volume Title
Type:
Book chapter
Citation
Advances in Dynamic Games: Applications to Economics, Finance, Optimization, and Stochastic Control, 2005 / Nowak, A., Szajowski, K. (ed./s), vol.7, pp.635-648
Statement of Responsibility
Conference Name
Abstract
It has been shown that it is possible to construct two games that when played individually lose, but alternating randomly or deterministically between them can win. This apparent paradox has been dubbed “Parrondo’s paradox.” The original games are capital-dependent, which means that the winning and losing probabilities depend on how much capital the player currently has. Recently, new games have been devised, that are not capital-dependent, but historydependent. We present some analytical results using discrete-time Markovchain theory, which is accompanied by computer simulations of the games.
School/Discipline
Dissertation Note
Provenance
Description
Papers based on presentations at the 9th International Symposium on Dynamic Games and Applications held in Adelaide, South Australia in Dec. 2000