ABSTRACT

Imagine you were offered the choice between playing two games that you would definitely lose in the long run. So what is the point of playing if you are sure to lose? But what if under certain circumstances, switching between these two losing games might actually allow you to win. This counter-intuitive phenomenon is known as the Parrondo's paradox, exemplified by simple coin tossing games. The paradox sounds like it might be too good to be true. Can we find such slot machines in a casino that allows us to win by constantly switching in between them? Where else does this paradox exist in the natural world? This seminar will cover the theory and some biological implications of the Parrondo’s paradox.