always see your pot odds and draw odds >>> before call
pot odds versus drawing odds.
In game theory, Nash equilibrium (named
after John Forbes Nash, who proposed
it) is a solution concept of a game
involving two or more players, in which
each player is assumed to know the
equilibrium strategies of the other
players, and no player has anything to
gain by changing only his or her own
strategy unilaterally. If each player
has chosen a strategy and no player can
benefit by changing his or her strategy
while the other players keep theirs
unchanged, then the current set of
strategy choices and the corresponding
payoffs constitute a Nash equilibrium.
Stated simply, Amy and Bill are in Nash
equilibrium if Amy is making the best
decision she can, taking into account
Bill's decision, and Bill is making the
best decision he can, taking into
account Amy's decision. Likewise, a
group of players is in Nash equilibrium
if each one is making the best decision
that he or she can, taking into account
the decisions of the others. However,
Nash equilibrium does not necessarily
mean the best cumulative payoff for all
the players involved; in many cases all
the players might improve their payoffs
if they could somehow agree on
strategies different from the Nash
equilibrium (e.g. competing businesses
forming a cartel in order to increase
their profits).
One important application is a
quantitative analysis of
the all-in decision:
