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https://hdl.handle.net/2440/2480
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DC Field | Value | Language |
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dc.contributor.author | Harmer, G. | - |
dc.contributor.author | Abbott, D. | - |
dc.date.issued | 1999 | - |
dc.identifier.citation | Statistical Science: a review journal, 1999; 14(2):206-213 | - |
dc.identifier.issn | 0883-4237 | - |
dc.identifier.uri | http://hdl.handle.net/2440/2480 | - |
dc.description.abstract | We introduce Parrondo’s paradox that involves games of chance. We consider two fair gambling games, A and B, both of which can be made to have a losing expectation by changing a biasing parameter ε . When the two games are played in any alternating order, a winning expectation is produced, even though A and B are now losing games when played individually. This strikingly counter-intuitive result is a consequence of discrete-time Markov chains and we develop a heuristic explanation of the phenomenon in terms of a Brownian ratchet model. As well as having possible applications in electronic signal processing, we suggest important applications in a wide range of physical processes, biological models, genetic models and sociological models. Its impact on stock market models is also an interesting open question. © 1999 Institute of Mathematical Statistics. | - |
dc.description.statementofresponsibility | G. P. Harmer and D. Abbott | - |
dc.language.iso | en | - |
dc.publisher | Institute of Mathematical Sciences | - |
dc.source.uri | http://projecteuclid.org/euclid.ss/1009212247 | - |
dc.title | Parrondo's paradox | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1214/ss/1009212247 | - |
pubs.publication-status | Published | - |
dc.identifier.orcid | Abbott, D. [0000-0002-0945-2674] | - |
Appears in Collections: | Aurora harvest 6 Electrical and Electronic Engineering publications |
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