Wagering practice – When third has the upper hand
Happy last day of September! Unfortunate that is is also Monday, but I suppose one bright spot is a new episode of Jeopardy! this evening.
Let’s take a walk in Rich Lerner‘s shoes here. What do you wager?
Click here for the answer!
(Thanks to the J! Archive)
Answers to Friday’s two-part scenario:
(click to view as a slideshow)
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- (1/5) For Thursday’s scenario, we determined optimal wagers for Renzo and Lynn using our first three rules. Are there other options available?
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- (2/5) If Lynn thinks Renzo will wager conservatively (i.e., so as not to lose to Lance), she might wager to cover his maximum wager: at least 7,000.
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- (3/5) Renzo might notice this as a possibility and adjust his own wagering range accordingly.
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- (4/5) Lynn could then adjust her wager based on Renzo. Such third-order thinking is unlikely, though, so it’s best that she remain with her original 7,000 minimum as an alternative. Renzo, on the other hand, can continue to reduce his maximum wager should he so choose.
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- (5/5) Taking this feedback loop to its (il)logical conclusion, we have Renzo with a new range of 1,600-3,000, and Lynn with a new optional wager of 7,000. In the real game, such a wager would have won the game for Lynn.
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