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Your support will help us to encourage people's love of learning for many years to come. One of the most extraordinary pieces of new mathematics was a discovery by the Spanish physicist Juan Parrondo, who was building a computer simulation of an effect in quantum theory. One has two simple coin-tossing games, each of which favours one's opponent. Suppose at each turn one chooses randomly which losing game to play. Astonishingly, this random switch between two unfavourable games can produce a favourable one.
For those who find this hard to believe, I will provide a demonstration! Parrondo's Paradox has been used to explain the behaviour of viruses, and offers investors the potential to reduce the risk in their portfolios. Welcome to Gresham College, and as always a special welcome to anyone who is here for the very first time: we hope that you will make many more visits to this wonderful and historic institution.
This is my third and final lecture this term. Today we are going to look at other paradoxes arising from games, and in particular at an astonishing example due to the Spanish physicist Juan Parrondo. But I thought I would begin with a topic which came up in questions at my February lecture.
In a game, is it always best to play the best move possible? Can there be an advantage in doing something which is demonstrably not the best option? In some sports, mistakes can be productive.
