Re: optimal bluffing frequency
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im approaching this purely from a game theory perspective; i'm studying a game, trying to find the optimal strategy for both players. I made the assumption that given a certain hand, the 2nd player always calls or always folds. i want to know why I can make such an assumption? it sounds like you were getting to that, Jerrod. Or can i justify this by saying that given that the first player is playing optimally, it doesnt matter if the 2nd player always calls, always folds, or wavers in between. So WLOG, assume he always calls or always folds.
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Wait, if you're trying to find the optimal strategy for both players, then both players need to maximize their minimum value. So like if one guy bluffs 1/(p+1) as much as he value bets and the other guy folds all the time, that's not an optimal strategy pair, because the first guy can improve his equity by bluffing more often. But if the second guy calls with p/(p+1) of his in-between hands, then the first guy can't improve by bluffing more or less; he's indifferent. So that is an optimal strategy pair. (in the typical easy one street game). If either player can improve their equity unilaterally by changing their strategy, then the strategies aren't optimal.
Jerrod
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