Nothing In Why Do Poker Toto 메이저놀이터Players Think Like Economists?In recent years, poker has revolutionized by applying insights from game theory, a standard economic tool that models the behavior of consumers and businesses. In this article, I will explain how and why game theory entered the poker world. It also explains what businesses, regulators and economists can learn from the game-theoretic revolution in poker.
How are competition regulators anticipating how the merger of the two companies will affect the prices consumers pay? How are high-tech companies and governments designing auctions to allocate online advertising space, communication frequency bands, and emissions trading licenses? In both cases, part of the answer is to model the behavior of a company using game theory.
Game theory studies situations in which the choices of others determine the best choice (or “strategy”) among choices. However, this interdependent choice is common in real-life games (hence the term “game theory”). For example, a soccer penalty shooter may choose whether to shoot straight to the left, right, or center of the goal, depending on the direction the goalkeeper jumps in. The same is often the case in economic situations. For example, when a company decides on a product price, it may want to be slightly less than its rival’s price on Toto메이저놀이터.
In game theory, we analyze such a situation in the Nash equilibrium concept after Nobel Prize winner John Nash (Do you remember the movie “Beautiful Mind” starring Russell Crowe as Nash)? The Nash equilibrium is a stable situation in which all participants make the best choice in the presence of a rival’s choice. For example, in the merger model used by competition regulators, Nash equilibrium means that every company selects a price that maximizes its profit, assuming the price chosen by another company. Today, game theory and Nash equilibrium are the cornerstones of economists’ thinking about interdependent choices, thus supporting much of modern microeconomics.
Apply game theory to poker
Poker seems to fit naturally into the game theory, as the choice of when and how much you bet depends not only on your hand but also on how you use your opponent’s hand and that hand. Nash’s predecessor, von Neumann, attempted to apply the game theory to poker in 1944.
But for the next 60 years, game theory has been ignored by poker players. They knew the odds and probabilities to some degree but relied on empirical rules based on practical experience. The strong players were characterized by a good “sense” of poker and familiarity with table talk, body language, psychology and other intangible elements. James Bond said in the 2006 film “007: Casino Royale.” “In poker, you don’t use your hand, you play against the other side.” Workroom
In 2003, accountant Chris Moneymaker won the World Series of Poker (WSOP) Main Event in Las Vegas, winning a prize of $2.5 million. The Moneymaker victory has helped stir the public’s imagination and put poker on the market as a spectator sport (he was qualified for the $39 stake in an online poker tournament, not the usual $10,000 participation fee).
The Whole Card Camera is a small camera located under a poker table, allowing players to see the cards face down. In 2007, poker became the third most common sport in the United States. The number of WSOP participants increased from 839 in 2003 to 8,773 in 2006, almost the same as today (8,569 in 2019).