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Blind stealing: Experience and expertise in a mixed-strategy poker experiment

Listed author(s):
  • Van Essen, Matt
  • Wooders, John

We explore the role of experience in mixed-strategy games by comparing, for a stylized version of Texas Hold-em, the behavior of experts, who have extensive experience playing poker online, to the behavior of novices. We find significant differences. The initial frequencies with which players bet and call are closer to equilibrium for experts than novices. And, while the betting and calling frequencies of both types of subjects exhibit too much heterogeneity to be consistent with equilibrium play, the frequencies of experts exhibit less heterogeneity. We find evidence that the style of online play transfers from the field to the lab.

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File URL: http://www.sciencedirect.com/science/article/pii/S0899825615000378
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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 91 (2015)
Issue (Month): C ()
Pages: 186-206

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Handle: RePEc:eee:gamebe:v:91:y:2015:i:c:p:186-206
DOI: 10.1016/j.geb.2015.02.014
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

References listed on IDEAS
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  1. Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-881, September.
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  3. Van Essen, Matt & Wooders, John, 2015. "Blind stealing: Experience and expertise in a mixed-strategy poker experiment," Games and Economic Behavior, Elsevier, vol. 91(C), pages 186-206.
  4. Wooders, John & Shachat, Jason M., 2001. "On the Irrelevance of Risk Attitudes in Repeated Two-Outcome Games," Games and Economic Behavior, Elsevier, vol. 34(2), pages 342-363, February.
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  10. Mark Walker & John Wooders, 2001. "Minimax Play at Wimbledon," American Economic Review, American Economic Association, vol. 91(5), pages 1521-1538, December.
  11. John A. List, 2003. "Does Market Experience Eliminate Market Anomalies?," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 41-71.
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  13. Steven Levitt & John List & David Reiley, 2010. "What happens in the field stays in the field: Professionals do not play minimax in laboratory experiments," Artefactual Field Experiments 00080, The Field Experiments Website.
  14. P.-A. Chiappori, 2002. "Testing Mixed-Strategy Equilibria When Players Are Heterogeneous: The Case of Penalty Kicks in Soccer," American Economic Review, American Economic Association, vol. 92(4), pages 1138-1151, September.
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  24. Shachat, Jason M., 2002. "Mixed Strategy Play and the Minimax Hypothesis," Journal of Economic Theory, Elsevier, vol. 104(1), pages 189-226, May.
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