Related Experiment Video
Updated: Aug 23, 2025

A Psychophysics Paradigm for the Collection and Analysis of Similarity Judgments
Published on: March 1, 2022
A comprehensive framework for preference aggregation Parrondo's paradox
Joel Weijia Lai1, Kang Hao Cheong1
1Science, Mathematics and Technology Cluster, Singapore University of Technology and Design, 8 Somapah Road, S487372 Singapore.
Abstract:
Individuals can make choices for themselves that are beneficial or detrimental to the entire group. Consider two losing choices that some individuals have to make on behalf of the group. Is it possible that the losing choices combine to give a winning outcome? We show that it is possible through a variant of Parrondo's paradox-the preference aggregation Parrondo's paradox (PAPP). This new variant of Parrondo's paradox makes use of an aggregate rule that combines with a decision-making heuristic that can be applied to individuals or parts of the social group. The aim of this work is to discuss this PAPP framework and exemplify it on a social network. This work enhances existing research by constructing a feedback loop that allows individuals in the social network to adapt its behavior according to the outcome of the Parrondo's games played.
More Related Videos
Related Concept Videos
Decision Making: P-value Method
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim is also stated. These statements can act as null and alternative hypotheses: a null hypothesis would be a neutral statement while the alternative hypothesis can...
Framing Effects
Agonism and Antagonism: Quantification
To quantify these effects, researchers use a dose-response curve, which provides valuable information about the potency and efficacy of a drug. Potency refers to...
Reason and Intuition
Pareto Chart
The Pareto chart is named after the Italian economist Vilfredo Pareto, who described the Pareto...
The Representativeness Heuristic

