Parrondo’s Paradox Noel-Ann Bradshaw University of Greenwich.

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Presentation transcript:

Parrondo’s Paradox Noel-Ann Bradshaw University of Greenwich

Game A Biased Coin: Heads I win £1 Tails you win £1 P(Heads) = 0.5 – ε where ε = A losing game for heads

Game B Two Biased Coins: Heads I win £1 Tails you win £1 If your winnings are a multiple of 3 play with coin 1 otherwise use coin 2.

Game B Coin 1: P(Heads) = 0.1 – ε Coin 2: P(Heads) = 0.75 – ε A losing game for heads

I lose!

Next Offer Suppose we play a random mixture of games: So randomly play Game A or Game B Same odds / same conditions. Do you still want to play?

I Win!

Parrondo’s Paradox