Chemical Engineering | Chemistry | Mechanical Engineering
Penney-Ante is a well known two-player (Player I and Player II) game based on an information paradox. We present a new approach, using difference-equations, to analyzing the outcome for each player. One strategy yields a winning outcome of 75% for Player II, the player playing second. The approach also permits investigation of non-optimal strategies, and demonstrates how mixing of such strategies can be used to tune the winning edge of either player. We generalize the analysis to accommodate the possibility of a biased coin.
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Barratt, Carl and Schwartz, Pauline, "Analysis of the Penney-Ante Game Using Difference Equations: Development of an Optimal and a Mixed-Strategies Protocol" (2012). Chemistry and Chemical Engineering Faculty Publications. 6.
Barratt, C. & Schwartz, P. (2012). Analysis of the Penney-Ante Game Using Difference Equations: Development of an Optimal and a Mixed-Strategies Protocol. Journal of Mathematics Research, 4(6), 1-11. DOI: 10.5539/jmr.v4n6p1