The Poker Digest - Part II

Poker Logic

Game Theory Modeling and Poker

by Jesse Knight

 

Economics and Sociology are social sciences which among other things, attempt to describe and predict human behavior based upon people’s wants and needs. Economists and Sociologists frequently use models to help them try to do this. A model is a theoretical set of conditions created by the scientist which, when evaluated using logic, will help them understand why or how certain types of human behavior occur. Models are useful to help one understand complex situations, but their usefulness is often limited because they are tiny, hypothetical constructs that do not mirror real world situations. Models are constructed with specific variables, and a specific set of conditions, whereas in the real world, there are an infinite number of variables and conditions for any given situation. A model is very much like a photograph, seeing it can help you gain an understanding of the scene it pictures, but the amount of information it provides is limited.

 

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Poker Game Theory

Poker and The Prisoner's Dilemma

by Jesse Knight

 

If you are a poker player, you are already a game theorist, whether you realize it or not. Improving your understanding of game theory, and how it applies to logical reasoning, will help you improve your poker game as well. In game theory, a model of a competitive situation is called a game. The game which is most frequently used to introduce game theory is called “The Prisoner’s Dilemma.” The following is how the prisoner’s dilemma is modeled in its most basic form. It is important to note that in this game, and in game theory in general, each actor cares only about his own best interest and does not care about the benefits or consequences of his actions to anyone else.

 

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Game Theory

by JackTenOffSuit.com Staff

 

This [video] course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.

 

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Bluffing Explained by Game Theory

by the PokerJunkie.com Staff

 

Imagine, just for the discussion, that you never bluffed. You only bet if you thought you had the best hand. Of course, opponents would quickly catch up with this and never call your bets. But if your opponent never calls your bets, you can safely bet every time and win every pot. But if you bet every time, he will start calling you every time he has you beaten. Somewhere in between these extremes is a frequency of bluffing that gives you the best chances.

 

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A Little Game Theory
by Lou Krieger

 

Talk to poker theorists long enough and the concept of game theory is bound to pop up. And it's not really a new idea either. Nesmith C. Ankeny even wrote an entire book about it in 1981 called, "Poker Strategy: Winning With Game Theory." David Sklansky also explained game theory in his seminal work, "Winning Poker," two years hence.


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Poker Digest I
2011 WSOP