Hey guys, I'm sorry if it was discussed before (im only on page 51 so far, lol), but reading this thread I've though of an interesting dilemma. I'm pretty well-versed in academic math in general and (especially) logic, but I'm completely new to game theory, so if I'm just misunderstending some basic terms, please, do not hesitate to correct me.
The question is: how (or if) does gto strategy "distinguish" bluffs from semibluff and valuebets? I came up with following answers:
1. It doesnt. Most counter-intuitive answer, pretty clearly wrong, but worth considering for a second. The idea is that except for nut-high and nut-low situation gto just randomly "balancing" bets, as if "not looking" in own cards. We can falsificate it inductively, by looking at nash equilibrium for push/fold hu, where it's pretty clear that our pushing ranges exist also for non-aces and non-23o. I'm pretty sure it can be also shown deductively, but why bother?
2. It has some built-in "absolute hand strength" term - for example, we say that valuebetting is betting top x% of possible hand combination on the flop, y% combination on the turn and z% combination on the river, semibluffing is betting when our hand is non-valuebet, but there exist at least x'% cards on the next street that turn our hand into a value-betting hand and bluffing is all the rest. The problem with this idea is that our actual hand strength depends on likelyhood of our opponent holding a hand stronger than ours, and it depends on many things, one of them being board structure. And including that in our estimation of hand strength would be assuming some strategy for opponent (look point 3).
3. It assumes that opponent is playing some strategy (most likely gto as well). This seems like the best answer to me, however also raises some questions. First of all, it's clearly correct for before-mentioned nash equilibrium for push/fold hu (where it is said explicite). It also seems rational, BUT:
a) from what I understand, gto does not adjust. Wouldnt assuming some strategy for opponent and playing accordingly be some form of adjusting? Or do I understand "adjusting" wrong in this case?
b) wouldnt that be exploitable by conciously taking sub-optimal lines, to lead our gto opponent to make decisions sub-optimal in relation to our actual range (in opposite to assumed gto-range)? Or is the whole beauty of gto that we have to sacrifice at least x% equity to gain maximum x% equity by "confusing" gto-opponent (thus making gto unexploitable)? But isnt it supposed to be truth that any sub-optimal to gto strategy HAS to lose vs gto? Im kinda confused here
c) assuming that opponent plays gto is clearly not true in most/all cases (since from what we know no gto for poker exists yet). Wouldnt deducing our action from false assumption be non-optimal course of action? Or is assuming that closest to perfect we can achieve (and therefore optimal). But what would make it so? Is it because gto-opponent is "worst case scenario" for gto and it has to be prepared to at least break even with it?
4. GTO doesnt exist, Nash was wrong and durrr is right. No comment here I guess
Summing up, it seems like option 3 is the answer, however I still have some doubts there and would appreciate some clarification. Sorry if I'm not clear in some points, but I'm not a native english speaker and have some problems expressing such theoretical and complex thoughts