2 papers
math.PR2023
Proof of a conjecture about Parrondo's paradox for two-armed slot machines
Huaijin Liang, Zengjing Chen
The 1936 Mills Futurity slot machine had the feature that, if a player loses 10 times in a row, the 10 lost coins are returned. Ethier and Lee (2010) studied a generalized version…
q-fin.GN2022
Long bet will lose: demystifying seemingly fair gambling via two-armed Futurity bandit
Zengjing Chen, Huaijin Liang, Wei Wang +1
No matter how much some gamblers occasionally win, as long as they continue to gamble, sooner or later they will lose more to the casino, which is the so-called long bet will lose.…