Re: Need help with game theory and bluffing.
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Game theory is a subject born from economics that aims to evaluate decisions in given situations.
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No. We economists borrowed game theory from mathematicians and have applied it to our interests. Just like we've done with calculus, matrix algebra, statistics, etc.
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EV = %times opponent fold * money in pot + %times called * equity
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This is a mathematical expectation. This is not an example of game theory.
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So, game theory can applied to anything.
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This is closer to correct. Game theory often assumes that all players are rational, but in poker this assumption is often violated. People play when drunk, play a particular hand a particular way because they "felt" that they'd get there. So while we can learn lessons from Game Theory (the optimal bluffing frequency in a given situation is an excellent example) we can't always use it in every situation.
All that said, it is still worthwhile to study it and learn the lessons. This way, we know what is a good idea, and we know that we need a good reason when we deviate from the lessons (i.e. change bluff frequency to 0% despite pot-odds when an opponent always calls).
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