[hmkpoker]

The very basic strategy should be for Player A should hit if his hand is less than Player B's, and stand if his hand is greater. Every hit would then give his hand an EV of .5, and Player B should then hit if his hand is less than .5, and stand if greater.

If player A stands, however, this signifies to player B that player A's hand is greater, and that player B should now hit. To have an edge for this move as a bluff, player A must have a hand greater than .50, because it is very likely to induce Player B to hit. Player B is also aware of the potential of this bluff, and should only hit on Player A's stands when Player B's are slightly above .50...let's say .50 to .75 or so. Anything greater than .75 yeilds a small expected return, especially when considering how likely it is that A is bluffing.

The EV of both strategies then becomes more difficult to calculate because it depends on psychology and the players.