Perfect Bayesian Equilibrium in Kuhn Poker

Martin Loriente () and Juan Cruz Diez
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Juan Cruz Diez: Department of Economics, Universidad de San Andrés

No 10, Young Researchers Working Papers from Universidad de San Andres, Departamento de Economia

Abstract: In 1950, Harold W. Kuhn introduced a simplified version of poker referred to as Kuhn Poker and solved it using the notion of Nash Equilibrium. His pioneering work inspired subsequent scholars who applied similar methodologies to other poker versions. In contrast we adopt a different procedure by employing Harsanyi’s approach to reach a Perfect Bayesian Equilibrium (PBE), a concept that emerged two decades after Kuhn’s original solutions. While computational techniques have greatly advanced the analysis of various poker variations, achieving a PBE remains elusive. Some studies suffer from methodological flaws, as they overlook the importance of incorporating beliefs into their analysis. In our research, we also conducted a rationality study and found that relaxing the sophistication of a player leads to a shift in optimal strategies towards more exploitative ones.

Keywords: Bayesian; Exploitative; GTO; KuhnPoker; PBE; Poker; Rationality (search for similar items in EconPapers)
Pages: 17 pages
Date: 2023-10, Revised 2023-10
New Economics Papers: this item is included in nep-gth, nep-his and nep-hpe
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https://webacademicos.udesa.edu.ar/pub/econ/ydoc10.pdf

Related works:
Working Paper: Perfect Bayesian Equilibrium in Kuhn Poker (2024)
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