A poker player is considering three different options after his opponent bet 200 before him. If the player folds, he will lose instantly. If the player calls, he figures he will win half the time. If he raises he figures that the opposing player will not re-raise him, but rather will either call or fold. He figures the opposing player will call only 1/4 of the time, folding the other 3/4 of the time. If the opposing player calls his raise, he figures he will never win. The pot size is 1,000 (including the opposing player's bet).
a. Draw a decision tree for this scenario including the information provided in part b.
b. Suppose that the player is thinking of raising to $400 (he will put in 200 to match the opponent's bet and another 200 as a raise, his opponent would then have to put in 200 more to call the raise). Is this the best option or should he instead call or fold?
c. At what raise size is the player's EMV of a raise equivalent to simply calling?
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