Quote:
Originally Posted by CoronalDischarge
OK, I see. But is there anything analogous to this in poker? I would argue that the quoted example is a special kind of game in which collusion is kind-of built in to the way it is scored. Whereas in poker it's just the (lone) best hand that wins. Sure it's often possible for player C to do something wacky that causes a pot that 'should have' gone to player A to get shipped to player B instead, but C has to pay heavily out of his own stack to effect that outcome. Right?
Interesting that you phrase it this way. It's FAR from clear that this is right. I actually worked out an example of this on my own a few months ago because I was curious, and I think it applies here.
This is a toy example that's analogous to poker. Let's say there are 3 players who I'll refer to as P, A, and B. P is holding a number in the range (-0.4,0) U (1,1.6). A and B are each holding a number in the range (0,1). The pot is 1 and each player has a stack of 1. A and B have checked, and it is on P to act. P can check or shove. If he checks, showdown. If he bets, then A can call or fold, and after that B can call or fold. Highest number wins at showdown.
It turns out that the Nash equilibrium is for P to shove the top 90% of his range--meaning he value bets 60% of the time, bluffs 30%, and checks back 10%. Then, if P bets, A never calls--that's right, literally never calls--and B calls 50% of the time, but if A happens to call, he folds 100% of the time. (That last part is a necessary contingency to make it an equilibrium.)
The EVs for each player are 0.9 for P, 0.05 for A, and 0.05 for B. (This is easy to see because when P bets, A and B both have 0EV, so the 90% of the time that P bets, his EV is 1. The 10% of the time that he checks, A and B win half the time each because they have identical ranges.)
Now suppose P decides to deviate from this equilibrium by shoving his entire range instead of checking back 10% of the time. Now he is exploitable--but suppose that A and B continue playing their GTO strategies. Since P now never checks, A never sees a showdown--and since all his EV came from showdown equity, his EV goes down to 0. Meanwhile, however, since B's GTO calling frequency is designed to make P indifferent to bluffing, P's EV actually does not change! So now instead of .9/.05/.05, it's .9/0/.1.
So here P's deviation from the NE is shifting EV from A to B, without P losing any EV, even though P has deviated from the NE and A and B have not. In light of this example I think it is extremely hard to make the case that this kind of situation couldn't happen in real poker.