| Issue |
Europhys. Lett.
Volume 63, Number 3, August 2003
|
|
|---|---|---|
| Page(s) | 319 - 325 | |
| Section | General | |
| DOI | https://doi.org/10.1209/epl/i2003-00461-5 | |
| Published online | 01 November 2003 | |
Optimal strategies in collective Parrondo games
Grupo Intedisciplinar de Sistemas Complejos (GISC) and Departamento de Física Atómica, Molecular y Nuclear Universidad Complutense de Madrid - 28040 Madrid, Spain
Received:
17
March
2003
Accepted:
26
May
2003
We present a modification of the so-called Parrondo's paradox where one is allowed to choose in each turn the game that a large number of individuals play. It turns out that, by choosing the game which gives the highest average earnings at each step, one ends up with systematic losses, whereas a periodic or random sequence of choices yields a steadily increase of the capital. An explanation of this behavior is given by noting that the short-range maximization of the returns is “killing the goose that laid the golden eggs”. A continuous model displaying similar features is analyzed using dynamic programming techniques from control theory.
PACS: 02.50.-r – Probability theory, stochastic processes, and statistics / 02.50.Ey – Stochastic processes / 05.40.-a – Fluctuation phenomena, random processes, noise, and Brownian motion
© EDP Sciences, 2003
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