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#51
10-01-2005, 11:01 PM
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Re: Do you take the coin-flip?
[ QUOTE ]
I'm literally shocked by how many people would fold in this impossible situation. If the point of the question is to get people to think about how risk averse/risk loving they may be, I've got a better hypothetical. I offer you 300K on a coinflip. Heads you win, tails you lose. OR, I'll give 75K right now for nothing. You forfeit your right to the 75k if you take the coin flip. Do you flip the coin? [/ QUOTE ] I absolutely take the 75k, at this moment in my life. But that's only because I have very little money (being a college student). Ask me when I'm 30 and theoretically have some money in the bank and what not and I'm taking the flop. 
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#52
10-01-2005, 11:03 PM
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Re: Do you take the coin-flip?
I take the 75k. Free money, man. I can turn that into 300k at Party 50nl in like 2 months. [img]/images/graemlins/tongue.gif[/img]
(once I get the hang of 24-tabling, that is)
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#53
10-01-2005, 11:14 PM
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Re: Do you take the coin-flip?
[ QUOTE ]
I offer you 300K on a coinflip. Heads you win, tails you lose. OR, I'll give 75K right now for nothing. You forfeit your right to the 75k if you take the coin flip. Do you flip the coin? [/ QUOTE ] I'd take the guaranteed cash. Not because I'm risk averse, but simply because my utility does not scale linearly with the cash reward. If I were wealthier, my utility function of cash would be linear in this range, and I'd take the flip, just as I take the flip for my $25 stack at the NLHE tables.
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#54
10-01-2005, 11:32 PM
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Re: Do you take the coin-flip?
[ QUOTE ]
I'd take the guaranteed cash. Not because I'm risk averse, but simply because my utility does not scale linearly with the cash reward. [/ QUOTE ] Am I a moran because I have no clue what you just said? [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img]
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#55
10-01-2005, 11:40 PM
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Re: Do you take the coin-flip?
[ QUOTE ]
[ QUOTE ] I'd take the guaranteed cash. Not because I'm risk averse, but simply because my utility does not scale linearly with the cash reward. [/ QUOTE ] Am I a moran because I have no clue what you just said? [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] Nah, just means you haven't had a grounding in economics. Money is money, but utility is the personal value or benefit to you of that money (or any other goods or servcies). Consider a lollipop. It's worth the same amoung of money to anyone, but the utility of that candy is a lot higher to a hungry little kid than to a middle-aged diabetic. Likewise, specific cash amounts have different worth to different people. 300k and 75k would have the same basic effect on my life. Very nice, but not permanently life changing. So the difference in utility between the two is not equivalent to the difference in cash. When deciding the expected value of the decision here, one has to look at utility, not money, so math alone doesn't decide it.
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#56
10-01-2005, 11:50 PM
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Re: Do you take the coin-flip?
this is an easy call.
if I had 150bbs or more and he had me covered, I might wait for better spot as it takes time to build up again if I have to reload. those that don't call in this spot, I guess you guys will never open casinos.
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#57
10-02-2005, 12:27 AM
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Re: Do you take the coin-flip?
[ QUOTE ]
Mental note: Weak/Tight Preflop player, will fold to pressure unless he has the nuts. [/ QUOTE ] Haha. You're funny. I'll get in with a wider range of hands against short stacks, obviously. However, if I get reraised with something like QQ I won't just stick it in, I'll call, take a flop and play poker. If I get reraised with AK with deep stacks, I'll usually fold, especially if I'm OOP. If this classifies me as weak tight in your eyes, then fine.
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#58
10-02-2005, 01:32 AM
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Re: Do you take the coin-flip?
[ QUOTE ]
Lets say its $1/$2. That puts $203 in the pot for you to call. Your 200 for 203. You favored by 1-4%, assuming the guy is telling the truth. In a tournament id go for it, not in a cash game. Think about this, it would never happen #1, 2. in a 1/2 cash game and someone raises up to just 45 its a huge raise(nevermind 200) you toss your 55 and pay no attention to the stupid head games. [/ QUOTE ] What? You call in a tournament but not in a cash game? That is totally opposite. In this situation I fold but only because im not properly rolled. If i moved down in limits I would make this call if it were 50/50 because of the action i would get after calling/pushing all my chips with 55.
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#59
10-02-2005, 01:39 AM
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Re: Do you take the coin-flip?
[ QUOTE ]
I absolutely take the 75k, at this moment in my life. But that's only because I have very little money (being a college student). Ask me when I'm 30 and theoretically have some money in the bank and what not and I'm taking the flop. [/ QUOTE ] I'm 37, have some money in the bank, and I'd take the $75K without giving it a second thought. But my V$PIP is <17%, I always wear my seat belt, and I won't run with scissors.
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#60
10-02-2005, 01:51 AM
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Re: Do you take the coin-flip?
[ QUOTE ]
[ QUOTE ] I absolutely take the 75k, at this moment in my life. But that's only because I have very little money (being a college student). Ask me when I'm 30 and theoretically have some money in the bank and what not and I'm taking the flop. [/ QUOTE ] I'm 37, have some money in the bank, and I'd take the $75K without giving it a second thought. But my V$PIP is <17%, I always wear my seat belt, and I won't run with scissors. [/ QUOTE ] [img]/images/graemlins/grin.gif[/img] Yeah I take the safe way on that too.
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Linear Mode
