[jay_shark]

Here is another interesting problem that shows why position matters .

There are two players who pick random numbers from the closed interval [0,1] . Each player posts an ante and has to make a decision whether or not to play for the pot or fold . The first player to act has three choices to make . He may either bet the pot, check-call , or check and fold . Player two can only call a bet , check or fold . There is no raising in this game .

a) What numbers should player one bet with ?
b) What numbers should player one check and call with ?
c) What numbers should player one check and fold with ?

*Bonus Question*

What is the EV of this game for both players ?