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With this understanding, the paradox resolves itself: The individual games are losing only under a distribution that differs from that which is actually encountered when playing the compound game. In summary, Parrondo's paradox is an example of how dependence can wreak havoc with probabilistic computations made under a naive assumption of ...
Traditionally, born in the purple [1] (sometimes "born to the purple") was a category of members of royal families born during the reign of their parent. This notion was later loosely expanded to include all children born of prominent or high-ranking parents. [2] The parents must be prominent at the time of the child's birth so that the child ...
B. $0. $1,000,000. In philosophy and mathematics, Newcomb's paradox, also known as Newcomb's problem, is a thought experiment involving a game between two players, one of whom is able to predict the future. Newcomb's paradox was created by William Newcomb of the University of California 's Lawrence Livermore Laboratory.
In game theory, backward induction is a solution concept that follows from applying sequential rationality to identify an optimal action for each information set in a given game tree. It develops the implications of rationality via individual information sets in the extensive-form representation of a game. [8]
Primordialism is the idea that nations or ethnic identities are fixed, natural, and ancient. [1] Primordialists argue that each individual has a single inborn ethnic identity independent of historical processes. [2] [3] While implicit primordialist assumptions are common in society and academic research, primordialism is widely rejected by ...
Chainstore paradox. The chain store paradox is an apparent game theory paradox describing the decisions a chain store might make, where a "deterrence strategy" appears optimal instead of the backward induction strategy of standard game theory reasoning. The paradox was first put forth by Reinhard Selten in 1978. [1]
Berkson's paradox, also known as Berkson's bias, collider bias, or Berkson's fallacy, is a result in conditional probability and statistics which is often found to be counterintuitive, and hence a veridical paradox. It is a complicating factor arising in statistical tests of proportions. Specifically, it arises when there is an ascertainment ...
In probability theory, the birthday problem asks for the probability that, in a set of n randomly chosen people, at least two will share a birthday. The birthday paradox refers to the counterintuitive fact that only 23 people are needed for that probability to exceed 50%. The birthday paradox is a veridical paradox: it seems wrong at first ...