LOGO-L> Spatial metaphor for Superturtle 
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 LOGO-L> Spatial metaphor for Superturtle

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Winning With Losing Games

 A New Paradox in the World of Probability

Two losing strategies can sometimes make a winning combination
(ABCNEWS.com/Brian Garrigan)

By John Allen Paulos
Special to ABCNEWS.com
June 1 - There's an old story about a store owner who loses money on each
individual sale but somehow makes it up in volume of sales.
     New calculations by a Spanish physicist now suggest that this paradox
may have a kernel of truth to it. The discovery by Juan Parrondo not only
offers new brain candy for mathematicians, but variations of it may also
hold implications for investing strategies.
     Parrondo's paradox deals with two games, each of which results in
steady losses over time. When these games are played in succession in random
order, however, the result is a steady gain. Bad bets strung together to
produce big winnings - very strange indeed! To understand it, let's switch
from a financial to a spatial metaphor.
<snip>
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Tue, 19 Nov 2002 03:00:00 GMT  
 
 [ 1 post ] 

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