Construction of novel stochastic matrices for analysis of Parrondo’s paradox.

Abstract: In Parrondo’s paradox, a winning strategy is formed either by playing two losing games randomly or alternating them periodically. The paradox is commonly analyzed using stochastic matrices. In this paper, we modify the stochastic matrices to allow a more systematic introduction of bias into fair processes, while retaining the use of simple matrix operations throughout the analysis. [Copyright &y& Elsevier]