What, then, should you do? With an excellent hand, you should bet: You lose nothing if your opponent folds, while giving yourself a good chance of winning a big pot if he calls. But with a middling hand, you shouldn't bet: If he has a bad hand, he'll fold, and you'll win the ante, which is what you'd have won anyway by checking; but if he has a good hand, he'll call and win. It's heads he wins, tails you don't. You should check instead, and hope your middling hand wins the ante. What about with a terrible hand? Should you check or bet? The answer is surprising. Checking would be unwise, because the hands will be compared and you will lose. It actually makes more sense to bet with these bad hands, because the only way he might drop out is if you make a bet. Perversely, you are better off betting with awful cards than with mediocre ones, the quintessential (and rational) bluff. There's a second reason for you to bet with terrible cards rather than middling ones: Your opponent will have to call a little more often. Because he knows that your bets are sometimes very weak, he can't afford to fold too easily. That means that when you bet with a good hand, you are more likely to be called, and to win when you are. Because you are bluffing with bad cards, your good hands make more money. Tim Harford
It's not reasonable to love people who are only going to die, " she said. Nash thought about that for a moment, stroking Small's neck with great deliberation, as if the fate of the Dells depended on that smooth, careful movement." I have two responses...
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Kristin Cashore
All opinions are not equal. Some are a very great deal more robust, sophisticated and well supported in logic and argument than others.
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Douglas Adams
Mathematics expresses values that reflect the cosmos, including orderliness, balance, harmony, logic, and abstract beauty.
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Deepak Chopra
[The decay of Logic results from an] untroubled assumption that the particular is real and the universal is not.
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C.s. Lewis
How do you feel right now?" "I hurt like hell."" You'll feel worse tomorrow."" So?"" So, better get a jump on this while you still feel...not as bad."" What kind of logic is that?" I retorted.
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Richelle Mead
More Quotes By Tim Harford
We still don't have a good word to describe what is missing in Cameroon, indeed in poor countries across the world. But we are starting to understand what it is. Some people call it 'social capital, or maybe 'trust'. Others call it 'the rule of...
Accepting trial and error means accepting error. It means taking problems in our stride when a decision doesn't work out, whether through luck or misjudgment. And that is not something human brains seem to be able to do without a struggle.
What, then, should you do? With an excellent hand, you should bet: You lose nothing if your opponent folds, while giving yourself a good chance of winning a big pot if he calls. But with a middling hand, you shouldn't bet: If he has a...
Consider the situation: Money that was provided because of social networks rather than need; a project designed for prestige rather than to be used; a lack of monitoring and accountability; and an architect appointed for show by somebody with little interest in the quality of...
If the whole process of learning from failure means discarding stuff that's not working, but in fact, our natural reaction is to keep going, to throw more money behind it, to throw more emotional energy behind it... that's a real problem.
