Quote:
Originally Posted by spikeraw22
This is incorrect. It's IMPOSSIBLE to have a higher win rate by passing up any edge. It may reduce variance yes, but why would you ever play at a higher stakes game short rolled? If you're trying to tell me that's lower variance than playing optimally at a lower stakes game then I'll call you a fool. a two buy in downswing at 2/5 is a 5 buy in down swing at 1/2, and if you're passing up the kind of edges at 2/5 you'd have to pass up to avoid going broke compared to 1/2 then I'd say you're gonna go broke anyway.
There are a number of ways that passing up an extremely marginal edge can improve your win-rate. One is in the post just below this one that our win-rate may be higher in a 2/5 game even if we have to pass up very small edges in order to sustain a BR in that game. To the extent you don't agree with that being realistic, it certainly would be in a situation like this where you KNOW you have basically exactly 50% equity against his range.
Also, you seem to be assuming that losing this pot would have no psychological effect on hero. A hand that has exactly 50% equity obviously has theoretical value here and we should call. But the 50% of the time we lose a buy-in, our play will almost certainly be affected and we should take that into account upfront. Its probably easiest to conceptualize this by thinking about stop-losses. People have stop-losses because they believe at some point losing will cause them to behave sub-optimally.
On the subject of stop-losses, and a related point, if we take this small edge we risk putting ourselves in a situation where if we lose we are closer to a stop-loss and getting to a point where we have determined we will stop playing. If we are +EV in the game this is obviously bad.
So, you're right, from a pure theoretical point of view where we are all robots with unlimited bankrolls it is obviously non-sensical to fold when we KNOW we have exactly 50% equity. But that isn't a realistic set of circumstances. No one ever has an unlimited bankroll. And if you are playing with such a large roll for the level you are at, assuming you could beat the next level up, it may well make sense to take a shot and want to avoid certain marginal EV situations.
Unfortunately, there isn't as easy a fix for the fact that we are all human, not robots. Losing is inevitably going to have a negative impact on our outlook and cause us to play slightly worse. When the edge is so thin, it may not be worth it.
I would think the vast majority of players would be better off passing up this kind of edge PF. Keep in mind that its important that we are PF with basically no overlay (where all our profit will come from). On later streets we should be increasingly more willing to push small edges because the overlay gets larger. But given the inevitable emotional impact of losing 100bbs 50% of the time. I just don't think its worth it to call here. Our EV is: $.5($212)-.5($198)= $7. Its pretty easy to imagine that, in losing 100bbs, we later make a mistake that costs us more than 3.5 BBs.