price is right - Page 2

On February 19 2014 17:20 NMcNasty wrote: Player 1 has to guess high. All other options are seriously bad against rational actors since they lead to situations where player 1 gets +1ed. .

This is absolutely wrong.
if you bet 1 , player 2 bet 2 , player 3 bet 3
,
player 2 is the idiot not you.
Player 2 can't +1 you , only player 3 can , and he will +1 you or player 2 anyway.
no matter what you do

player 1 bet x
player 2 bet y with y =/= x+1
player 3 bet x+1 or y+1

you can bet 1 , 90 or 110 it won't change player 2' strategy or 3's

if you bet 1 , player 2 will bet something between 80 and 120 player 3 will bet 2 or [80,120] +1
if you bet 90 , player 2 will bet 110 or 70 and player 3 111 or 71
it changes absolutely nothing.

betting 90 or 110 has the merit to take a shot at the exact price (so you've got 33% + tiny chance) instead of 33% , that's all.

Btw I offer coaching for price is right.
send me a pm , I charge 20% of winnings , 100% guaranteed winner with my coaching.

On February 20 2014 12:12 waga wrote: if you bet 1 , player 2 will bet something between 80 and 120 player 3 will bet 2 or [80,120] +1

No, player3 doesn't randomly choose who to +1, he always picks on who to +1 based on which one gives him the better chance. If player 1 bets $1, then player 2 will bet an amount in which player3 has better chance +1ing player 1 as opposed to +1ing player two. If player 1 bets low, there will always be such an amount so player1 will always get +1ed.

Example:
Player 1 bets $1
Player 2 bets some amount that is too high 55% of the time.

If player 3 +1es player 2, he only wins 45% of the time. If he +1es player 1 he wins 54% of the time. So he'll always +1 player 1.

Ok you're explaining me that player 3 is a genius and can know if player 2 is too high 55%+.
In which case we lost anyway , no point playing.

You don't get it and I already spent waaaay too much time in this thread

On February 20 2014 12:45 waga wrote: Ok you're explaining me that player 3 is a genius and can know if player 2 is too high 55%+. In which case we lost anyway , no point playing.

I was assuming each player has the same idea of the distribution of possible price values. But even if you don't assume that it doesn't mean each player's price values are random, which is why you're still wrong.

nm