No, the difference is that con artists are another intelligence, and you are in competition. Anytime you are in competition against a better more expert intelligence, it is an important difference.
The activities of others are important data, because they are often rationally motivated. If a con artist offers me a bet, that tells me that he values his side of the bet more. If an expert investor sells a stock, they must believe the stock is worth less than some alternate investment. So when playing assume that odds are bad enough to justify their actions.
Not sure where your comment disagrees with mine. I think you’re describing the same thing as “update to a state of belief that makes the bet unprofitable”.
No, the difference is that con artists are another intelligence, and you are in competition. Anytime you are in competition against a better more expert intelligence, it is an important difference.
The activities of others are important data, because they are often rationally motivated. If a con artist offers me a bet, that tells me that he values his side of the bet more. If an expert investor sells a stock, they must believe the stock is worth less than some alternate investment. So when playing assume that odds are bad enough to justify their actions.
Not sure where your comment disagrees with mine. I think you’re describing the same thing as “update to a state of belief that makes the bet unprofitable”.