Occurrence of complementary processes in Parrondo’s paradox
Wayne Wah Ming Soo and
Kang Hao Cheong
Physica A: Statistical Mechanics and its Applications, 2014, vol. 412, issue C, 180-185
Abstract:
Parrondo’s paradox involves two losing processes producing a winning outcome. We analyze the paradox with an original and novel method in which we start with one process and seek to construct a complementary process to achieve the paradox. We then derive a general condition for the classical Parrondo game to have a complementary process. Numerical simulation predicts that approximately two-thirds of such losing games satisfy the required condition. This suggests the common occurrence of the paradox, indicative of many potentially undiscovered applications in real-life scenarios involving stochastic processes.
Keywords: Stochastic matrices; Parrondo’s paradox; Stochastic processes (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:412:y:2014:i:c:p:180-185
DOI: 10.1016/j.physa.2014.06.010
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