Stripped-Down Poker: A Classroom Game with Signaling and Bluffing

The authors present a simplified, "stripped-down" version of poker as an instructional classroom game. Although Stripped-Down Poker is extremely simple, it nevertheless provides an excellent illustration of a number of topics: signaling, bluffing, mixed strategies, the value of information, and Bayes's Rule. The authors begin with a description of Stripped-Down Poker: how to play it, what makes it an interesting classroom game, and how to teach...