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? It turns out however, that 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 real-world applications of the Parrondo’s paradox.

Speaker’s Bio

Dr. CHEONG Kang Hao joins SUTD as a faculty in the Science and Math Cluster in 2019. Kang Hao has broad interests in mathematical and computational approaches to understanding social dynamics, physical and biological systems. He specializes in the scientific study of the game-theoretic Parrondo’s paradox. He also enjoys working on healthcare/medical data analytics projects and in applied research work with the industry.