Gresham’s Law in Relation to Poker and Player Pools

Gresham’s Law is often counter intuitive to the way peoples feel money should work.  Bad money replaces the good, is a function of peoples that will hoard the good more valuable money (or send it abroad for a better price) and continue to circulate the “bad” money. So given two coins where a government decrees shops must accept them equally, if one coin is gold and one coin is half gold and half a lesser metal, the former coin will be “kept” and the latter preferred to be exchanged at the local shop or somewhere in the local economy.

We have this concept in relation to poker and Ideal Poker as well.  The prevailing myth that pros must always follow the recs in order to find the profitable games.  This would seem to be the correct interpretation of the gravitation of pros and recs in relation to finding ideal tables to play poker on.

But the author thinks this phenomenon is described backwards. WITHOUT monopolistic restrictions, it is in fact the future pros of the game, that will lead the rest of the herd.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s