Game theory

: This article discusses the mathematical modelling of incentive structures. For other games (and their theories) see Game (disambiguation). For the band named Game Theory, please see Game Theory (band).

Applications in gambling games

The mathematics of game theory have found their way back from the academic world into the strategic setting on which they were originally modelled. It is now very common, for the top Poker players to resort to a mixed strategy (calculated as a Nash equilibrium against all possible opposing strategies) as a defense against a more 'intuitive' opponent. This approach was first advocated by David Sklansky in "Theory of Poker", which drew very heavily from the work of game theorists in economics. In order to blunt the advantage in "reading" a player which a world champion card player might use against him, Sklansky advocated an optimal mixed strategy (using natural randomness) for various strategic decisions in gambling such as:

Related Topics:
Mixed strategy - David Sklansky - Economics

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• Bluffing & Semi-bluffing in seven card stud.
• Occasionally folding a weak hand for a final bet in limit texas holdem.
• Backgammon doubling strategy.