The Independent Chip Model and Risk Aversion

Nov 16, 2009 - for cash games. By this, we mean that chips in a cash game are equivalent to cash. On the other hand, the expected value of chips in a ...

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of the Year”, 27 August 2002, Jakarta, Indonesia. †e-mail: .... certainty $ 85,000 or to play a game where you receive $100,000 with probability 0.85 and.