Re: Caro Article
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There were so many bad players around that making the best mathematical play would actually win less than exploiting their specific weaknesses in other ways.
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I think this is a semantic problem, because any true mathematician would claim that the best plays mathematically are those that win you the most money. Game Theory, which strives to define the optimal strategy one should take when involved in a game of some sort, is a subfield of mathematics, not psychology, even though certain mathematical models must necessarily incorporate psychological aspects in order to yield an optimal strategy.
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Game theory shows the optimal play against an optimal opponent. That's not always the play that makes the most money against a complete idiot.
Simple example for this is a rock/paper/scissors-tournament. Players who randomize their decisions will usually end up in the middle of the pack. You always have a 50:50 chance against them, not better - not worse.
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