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Cited by 206

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

Parrondo's paradox

Open access
Abbott, D., Harmer, G. P.·1999·Statistical Science

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 $\epsilon$. 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 counter­intuitive result is a consequence of discrete­time 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.

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Metadata

Authors
Abbott, D., & Harmer, G. P.
Venue
Statistical Science
Published
1999-05-01
Volume
14
Issue
2
Pages
206-213
ISSN
0883-4237 (ISSN-L)
OpenAlex
W2021176516
Cited by
206
References
1
FWCI
8.56
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Parrondo's paradox. https://app.cochat.ai/papers/10.1214/ss/1009212247
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Abbott, D., & Harmer, G. P. (1999). Parrondo's paradox. Statistical Science. https://doi.org/10.1214/ss/1009212247

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