Optimal Bluffing Strategies in Poker
Bluffing in poker is examined as a problem in game theory. A very common situation occurs where the "kitty" contains K, player B has the apparent high hand, and player A has an apparent probability, P, of having a better hand than B, and considers a bluff. Under these conditions it can be shown that A should raise 1 unit with probability (1/(1 + K))(P/(1 - P)) \cdot B, in turn, should call A's potential bluff with probability K/(1 + K). This says that in pot limit poker, if the potential bluffer has the appearance of having the winning hand with probability 0.25, he should bluff 1/2 \cdot 1/3 = 1/6 of the time. The optimal strategy is to call a potential bluffing hand half the time.
Year of publication: |
1971
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Authors: | Friedman, Lawrence |
Published in: |
Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 17.1971, 12, p. 764-764
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Publisher: |
Institute for Operations Research and the Management Sciences - INFORMS |
Saved in:
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