Bluffing as a mixed strategy
In von Neumann and Morgenstern's sample model of poker, equilibrium has the first player bet with high and low hands, and check with intermediate hands. The second player then calls if his hand is sufficiently high. Betting by the low hands is interpreted as bluffing, and is a pure strategy....
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| Aineistotyyppi: | Working paper |
| Julkaistu: |
University of Oxford
2012
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