Quote:
Originally Posted by thehempy
this is EXACTLY why I'm not allowed to watch Deal or no deal with my girlfriend anymore
There is a concept called variance that a lot of poker players know about. In order for good poker players to use their positive edge to have a reasonably good chance of achieving their expected win rate, they must have a reasonably good chance to avoid going broke so that they can continue making the +eV decisions that make them money.
1) Suppose that the contestant on Deal or no Deal is a poker player in the same situation that was described above and whose net worth consists entirely of her poker bankroll which is exactly C times the banker's offer. 2) Suppose also that this poker player's goal is to satisfy the condition that F(X,D) = Integral(Probability(x), X-D/2, X+D/2, x) >= p(X,D), where the interval [X-D/2,X+D/2] is some range of her career total expected earnings, p(X,D) is some function of (X,D), and Integral(Probability(x), X-D/2, X+D/2, x) is the probability that her career total expected earnings will be within D of X. This poker player has a win rate given by the formula W(s,t) where s is the stakes and t is the time. We will assume for now that W depends on nothing else.
NOW SIR, will you please show me, using these assumptions, how the contestant's next decision on this particular episode of Deal or no Deal will be affected by the function p(X,D), W(s,t) and C??? SIR, I ask you now to show me what the best decision is as a function of W(s,t) and C if her goal, rather than those stated in assumption 2, is simply to maximize her total career expected earnings. Exactly! It follows trivially after using some mathematical formulas that for any reasonable/reasonably ambitious p(X,D), modest/common value for C, decent win rate W(s,t), and reasonable career length T, the best decision is that with zero variance ("Deal!").
It astonishes me that any self respecting poker player/2p2er would post such an ignorant statement on these forums. I am disgusted.
Anyone (other than me) leveled yet?