Poker Forum by Poker is Rigged

Right so next year im planning on writing my disertation on this. basically the marginal utility of money is how much one more pound benefits you. So obviously if you have one mnillion pouinds it will only benefit you a little but if you have 1 pound it will benefit you alot. What is also interesting is how much losing one pound will hurt you. Most people will not gamble 1 pound on a 50 50 (even money) because they are risk adverse (dont like to gamble i.e their utility of losing one pound is much greater than that of gaining one pound) i however think it would be different for poker players in three groups - you average fish, then your average winning player, then your high stakes pro... what do you recon?

I reckon a fish would gamble $50 on a 40/60 with a bankroll of $50. damn fish and their fds.

Wow this is a little too complicated for me bro...

I'm interested in reading more about your research...

I'm not sure of this, but I would assume the average poker player is a tad more willing to take risks than the average person. I believe a persons natural willingness to take risks would factor in more than a persons poker skills.

If there is more information than just the odds (30:70, 40:60 ...) I'm sure the superior players would be willing to take risks only after doing certain calculations.

...

Interesting topic, looking forward to reading more

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yer what i thought as well. Hopefully my university will approve the topic or im back to square one.

I read this article, awhile ago about people's views when it comes to money.. Suprisingly, it wasn't in a poker mag but in reader's digest. The study went something like this.. -

If you gave a person $30 and told them you bet $10 on a coin-flip (your typical 50-50).. so they had a 50% chance of ending up with $20 or $40.. most would take it.. i think the survey was somewhere around ~ 65-70% would take the flip.

But if you told someone that they had a 50-50 for $20 or $40 without giving them the money in the first place... or they could simply just have $30.. the majority of people ~ around 70% simply opted to have the $30.

That tells you a little bit about people's psychology... because both situations are exactly the same.. yet people are far more willing to gamble with money they already possess.. and i think that applies to poker players who already have money in their bankrolls and online so they dont consider it the same as normal money.