Parrondo's paradox via redistribution of wealth

Title
Parrondo's paradox via redistribution of wealth
Author(s)
이지연Stewart N. Ethier[Stewart N. Ethier]
Keywords
BROWNIAN RATCHETS; GAMES
Issue Date
201203
Publisher
UNIV WASHINGTON, DEPT MATHEMATICS
Citation
ELECTRONIC JOURNAL OF PROBABILITY, v.17, pp.1 - 21
Abstract
In Toral's games, at each turn one member of an ensemble of N >= 2 players is selected at random to play. He plays either game A', which involves transferring one unit of capital to a second randomly chosen player, or game B, which is an asymmetric game of chance whose rules depend on the player's current capital, and which is fair or losing. Game A' is fair (with respect to the ensemble's total profit), so the Parrondo effect is said to be present if the random mixture gamma A' + (1 - gamma) B (i.e., play game A' with probability gamma and play game B otherwise) is winning. Toral demonstrated the Parrondo effect for gamma = 1/2 using computer simulation. We prove it, 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 is an element of (0, 1). We do the same for the nonrandom pattern of games (A')(r) B-s for all integers r, s >= 1. An unexpected relationship between the random-mixture case and the nonrandom-pattern case occurs in the limit as N -> infinity.
URI
http://hdl.handle.net/YU.REPOSITORY/29644http://dx.doi.org/10.1214/EJP.v20-1867
ISSN
1083-6489
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이과대학 > 통계학과 > Articles
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