Volume 63, Number 3, August 2003
|Page(s)||319 - 325|
|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
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
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.