Strange attractors in a chaotic coin flip simulation

Crystal Cooper

Chaos, Solitons & Fractals, 2006, vol. 30, issue 1, 1-10

Abstract: Presented is a computer simulation used to model a variation of the game known as the gambler’s ruin. A rich player gambles with a set amount of money m. The poor player starts out with zero capital, and is allowed to flip a coin in order to try to win the money. If the coin is heads, the poor player wins a dollar but if it is tails, the player loses a dollar. The poor player is always allowed to win the first flip, and is allowed to flip n times, even when the amount of money lost reaches zero. The dynamics of this process is chaotic due to fluctuations in the variance of the amount of money.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:30:y:2006:i:1:p:1-10

DOI: 10.1016/j.chaos.2005.09.001

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