A comprehensive framework for preference aggregation Parrondo’s paradox

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.