|
|
#21
06-14-2005, 01:20 PM
|
|||
|
|||
Re: Life after Professional Poker
[ QUOTE ]
[ QUOTE ] [ QUOTE ] How could someone with an undergrad degree...IN THE STUDY OF MONEY, not be able to grasp the sheer lunacy of leaving a job to "give professional poker a whirl". [/ QUOTE ] Poker seems to me to be an excellent experience for someone very interested in economics. [/ QUOTE ] I think so too. I was a CS and Econ major in school, and poker is the only place where I actually apply what I've learned in college. I've been spending alot of time recently trying to see if I can understand the "economics" of poker. So far I have a lot of crazy theories that are probably wrong. If you think of the poker table as the "marketplace" and your opponents as your "competition", all poker is, is trying to come up with the perfect strategy to maximize your profits. If you're seriously thinking of getting a PhD in economics, and are interested in poker, you may even try to spend the year not only playing poker, but theorizing about the economics of the game. So far, I've not seen any economic models applied to poker, but I really think alot of the concepts I learned in college are very applicable, if only I hadn't drank so much. [/ QUOTE ] What's difficult? Replace Utility with EV. 
|
|
#22
06-14-2005, 01:43 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] How could someone with an undergrad degree...IN THE STUDY OF MONEY, not be able to grasp the sheer lunacy of leaving a job to "give professional poker a whirl". [/ QUOTE ] Poker seems to me to be an excellent experience for someone very interested in economics. [/ QUOTE ] I think so too. I was a CS and Econ major in school, and poker is the only place where I actually apply what I've learned in college. I've been spending alot of time recently trying to see if I can understand the "economics" of poker. So far I have a lot of crazy theories that are probably wrong. If you think of the poker table as the "marketplace" and your opponents as your "competition", all poker is, is trying to come up with the perfect strategy to maximize your profits. If you're seriously thinking of getting a PhD in economics, and are interested in poker, you may even try to spend the year not only playing poker, but theorizing about the economics of the game. So far, I've not seen any economic models applied to poker, but I really think alot of the concepts I learned in college are very applicable, if only I hadn't drank so much. [/ QUOTE ] What's difficult? Replace Utility with EV. [/ QUOTE ] True, but I think you can take this beyond evaluating immediate equity, which obviously good players do. I haven't looked at an econ or stats book in years so I'm going to butcher this (I really need to get some books from my parents attic before I can formulate anything coherent). I think if you could somehow create an equation that takes into account three variables: immediate odds, implied odds, and fold equity, and assign a weighting to each variable based on your competition (you would place a higher weighting on implied odds at a loose table or against a loose opponent and you would place a higher weighting on fold equity at a tight table or against a tight opponent), you could then derive optimal plays from that equation. You would first need to understand how to optimally calculate the value of each of the variables. TOP does a great job of explaining immediate odds and implied odds, but I think does a poor job with "fold equity" (it's actually not defined in TOP). I think to compute the fold equity value, you would need to take into account your opponents range of hands, his betting pattern, and the board. The "hyperagressive" strategy seems to put a great deal of weighting on implied odds and fold equity, where as the "conservative" strategy puts a great weighting on immediate odds. If you can somehow create a set of equations that accurately compute each of the three variables, and then a meta equation that assigns the correct weighting to them given the table conditions (ie your competitors strategy), I think you could actually create a dynamic program that can play nearly optimally under any conditions. In any case, this is mostly speculation based on absolutely nothing, but would be interesting to study further.
|
|
#24
06-14-2005, 02:06 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
And seriously, can't you hold down a low paying job and play poker on the side? Don't you get weekends off?...although, from your only 110 posts in 8 months of membership, I can assume there's an outside chance, unlike others here, that you have a girlfriend. -Matt [/ QUOTE ] Speak for yourself, I have a girlfriend. However, my wife said I had to either giver her up or poker up, so I'm dumping her this weekend.
|
|
#25
06-14-2005, 02:22 PM
|
|||
|
|||
|
Re: Life after Professional Poker
my .02 is people spend way too much time worrying about what potential employers are going to think about them doing <insert non 9-5 activity here> with their time. I think you'd be much better off not worrying about what anyone thinks about how you choose to spend your life, or the choices you make.
if you want to take a year off and play poker, have fun and go for it. if an interviewer asks you what you did with that year, tell them the truth and maybe tell them what you learned from it. if they don't want to hire you because of it, big deal. there are other jobs out there. I just think life is too short to worry about what some potential employer is going to think about how you chose to spend your time. also, most people secretly want to do stuff like that (take a year off and be skier, poker player, backpacker, whatever) and will think it's awesome that you actually did. --turnipmonster
|
|
#26
06-14-2005, 02:22 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
This is implicitly what you are doing by putting them on hand ranges. [/ QUOTE ] That's absolutely true, but I haven't seen anyone write down these concepts with any mathematical rigor. Most of economics is common sense, but Nobel Prizes are handed out to those who can put to math these common sense theories. I think it would definitely be an interesting venture for a year if that's a subject the OP is interested in. Game theory is really the only economic concept that I've seen applied to poker, I'm sure many more are just as applicable.
|
|
#27
06-14-2005, 02:33 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
I think you'd be much better off not worrying about what anyone thinks about how you choose to spend your life, or the choices you make. [/ QUOTE ] Hell yes.
|
|
#28
06-14-2005, 02:43 PM
|
|||
|
|||
|
Re: Life after Professional Poker
If I remember correctly bisonbison played poker pro for a while. Then got a job, even though he told he had played poker for a while, I think he said something like:
"jada jada jada pleayed poker for a while, but I miss the team spirit of working with other people"
|
|
#29
06-14-2005, 03:19 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
[ QUOTE ] Keep grinding out that 12K/year. Mom is proud. -Matt [/ QUOTE ] This is genuinely funny. You have no idea who I am, what I do, if I play winning poker, nothing. Yet you think somehow this is an insult. Honestly, you are a triumph. [/ QUOTE ] Yeah, he clearly overestimated your yearly earn. [img]/images/graemlins/laugh.gif[/img]
|
|
#30
06-14-2005, 03:35 PM
|
|||
|
|||
|
Re: Life after Professional Poker
[ QUOTE ]
[ QUOTE ] How could someone with an undergrad degree...IN THE STUDY OF MONEY, not be able to grasp the sheer lunacy of leaving a job to "give professional poker a whirl". [/ QUOTE ] Poker seems to me to be an excellent experience for someone very interested in economics. [/ QUOTE ] Especially once you get into the economics-psychology overlap (cognitive biases, acting under impartial/wrong information etc...)
|
 |
|
|
Linear Mode
