Bill Chen Type Pure Math/Poker Problem

[David Sklansky]

After pondering for a few minutes, I'm thinking the answer is actually simple. Everybody should bet with a frequencey that prevents a renegade from profiting with lesser hands. So for instance if four people ante one dollar and the bet is three dollars, a bluffer could gamble three to win three if everybody else folds. To prevent him from profiting the others must fold no more often than the cube root of one half. Did I miss something?