Parrondo's paradox via redistribution of wealth

DOI10.1214/EJP.V17-1867zbMATH Open1244.91021arXiv1109.4454OpenAlexW2106587723MaRDI QIDQ428631FDOQ428631

Authors: Stewart N. Ethier, Jiyeon Lee 

Publication date: 22 June 2012

Published in: Electronic Journal of Probability (Search for Journal in Brave)

Abstract: Toral (2002) considered an ensemble of Ngeq2 players. In game B a player is randomly selected to play Parrondo's original capital-dependent game. In game A' two players are randomly selected without replacement, and the first transfers one unit of capital to the second. Game A' is fair (with respect to total capital), game B is losing (or fair), and the random mixture {gamma}A'+(1-{gamma})B is winning, as was demonstrated by Toral for {gamma}=1/2 using computer simulation. We prove this, establishing a strong law of large numbers and a central limit theorem for the sequence of profits of the ensemble of players for each {gamma}in(0,1). We do the same for the nonrandom pattern of games (A')^r B^s for all integers r,sgeq1. An unexpected relationship between the random-mixture case and the nonrandom-pattern case occurs in the limit as N ightarrowinfty.

Full work available at URL: https://arxiv.org/abs/1109.4454

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zbMATH Keywords

Markov chaincentral limit theoremstrong law of large numbersstationary distributionfundamental matrixParrondo's capital-dependent games

Mathematics Subject Classification ID

Applications of Markov chains and discrete-time Markov processes on general state spaces (social mobility, learning theory, industrial processes, etc.) (60J20) Central limit and other weak theorems (60F05) Probabilistic games; gambling (91A60)

Cited In (6)

• Limit theorems for Parrondo's paradox
• A discrete dynamical system for the greedy strategy at collective Parrondo games
• Parrondo effect: exploring the nature-inspired framework on periodic functions
• Parrondo's paradox from classical to quantum: a review
• How strong can the Parrondo effect be? II
• Proof of a conjecture about Parrondo's paradox for two-armed slot machines

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