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Are Byes Fair? Is Life Fair?

Posted By: Joe Russell
Date: Saturday, 3 April 2010, at 2:32 a.m.

In Response To: Are Byes Fair? Is Life Fair? (Daniel Murphy)

Assuming one winner and 100% return: equity buying into the first round is .5*.4*.4*8000-1000= -360$; equity buying into the second round is (1/3*2/5*1/2*2/5+1/3*3/5*2/5*2/5+2/3*2/5*2/5*2/5*1/2+2/3*(1-(2/5)^2)*2/5*2/5)*8000-2000= -643.20$.

As an average player, even though you will win the tournament more than twice as often by entering the second round (.08 vs .1696), you increase your negative equity by $283.20. Unless there is added utility to you of winning = 1/.0896*283.20=$3160, you should enter the first round.

Messages In This Thread

• Are Advanced Round Entries Fair?
  Bob Glass -- Wednesday, 31 March 2010, at 8:03 p.m.
  • Are Advanced Round Entries Fair?
    Bill Riles -- Wednesday, 31 March 2010, at 8:42 p.m.
  • Are Advanced Round Entries Fair?
    Jason Lee -- Wednesday, 31 March 2010, at 8:53 p.m.
    • Are Advanced Round Entries Fair?
      Bob Glass -- Thursday, 1 April 2010, at 7:36 p.m.
  • Are Advanced Round Entries Fair?
    Carlo Melzi -- Wednesday, 31 March 2010, at 9:06 p.m.
    • Are Advanced Round Entries Fair?
      Bob Glass -- Wednesday, 31 March 2010, at 9:24 p.m.
  • Are Advanced Round Entries Fair?
    Steve Mellen -- Wednesday, 31 March 2010, at 9:26 p.m.
    • Are Advanced Round Entries Fair?
      joe freedman -- Wednesday, 31 March 2010, at 10:23 p.m.
      • Are Advanced Round Entries Fair?
        Jason Lee -- Wednesday, 31 March 2010, at 10:28 p.m.
      • What Should The Weaker Player Do?
        Paul Weaver -- Thursday, 1 April 2010, at 4:19 p.m.
    • Are Advanced Round Entries Fair?
      Joe Russell -- Wednesday, 31 March 2010, at 11:39 p.m.
    • Are Advanced Round Entries Fair?
      Bob Glass -- Thursday, 1 April 2010, at 12:04 a.m.
  • Are Fifteen Point Matches Fair? *NM*
    Sam Pottle -- Thursday, 1 April 2010, at 2:27 a.m.
    • Are Fifteen Point Matches Fair?
      Bill Riles -- Thursday, 1 April 2010, at 2:42 a.m.
  • Are Advanced Round Entries Fair?
    Rich Munitz -- Thursday, 1 April 2010, at 3:35 a.m.
    • Are Advanced Round Entries Fair?
      Bill Riles -- Thursday, 1 April 2010, at 3:41 a.m.
      • Are Advanced Round Entries Fair?
        Bill Riles -- Thursday, 1 April 2010, at 2:16 p.m.
    • Are Advanced Round Entries Fair?
      Bob Glass -- Thursday, 1 April 2010, at 7:19 p.m.
  • Are Byes Fair? Is Life Fair?
    Paul Weaver -- Thursday, 1 April 2010, at 4:14 p.m.
    • Are Byes Fair? Is Life Fair?
      Rich Munitz -- Thursday, 1 April 2010, at 4:28 p.m.
      • Are Byes Fair? Is Life Fair?
        Bill -- Thursday, 1 April 2010, at 7:23 p.m.
    • Are Byes Fair? Is Life Fair?
      joe freedman -- Thursday, 1 April 2010, at 9:42 p.m.
      • Are Byes Fair? Is Life Fair?
        Bob Glass -- Friday, 2 April 2010, at 6:41 p.m.
        • Are Byes Fair? Is Life Fair?
          Daniel Murphy -- Friday, 2 April 2010, at 8:20 p.m.
          • Are Byes Fair? Is Life Fair?
            Joe Russell -- Saturday, 3 April 2010, at 2:32 a.m.
        • Are Byes Fair? Is Life Fair?
          joe freedman -- Saturday, 3 April 2010, at 4:52 p.m.
          • Are Byes Fair? Is Life Fair?
            Rich Munitz -- Saturday, 3 April 2010, at 7:08 p.m.
    • Are Byes Fair? Is Life Fair?
      Steve Mellen -- Thursday, 1 April 2010, at 10:15 p.m.
    • "Is it "fair" that some people are born rich?"
      Leonardo Jerkovic -- Friday, 2 April 2010, at 1:02 p.m.