In Poker, What’s More Important: Skill or Luck?

May 11, 2011 in Daily Bulletin

This article gives an overview of a paper about the game of poker and whether it is more skill or luck. These findings are especially important now as the US government is cracking down on online poker websites. The findings of the economists were that poker does indeed reward skill. Highly rated poker players performed much better than those rated lower. The difference between the two groups was actually larger than that between money managers in financial markets. So maybe picking the right stocks requires more luck than a game of poker.

Source: Economix Blog