From the Merriam-Webster Dictionary:
* Main Entry: fold
* Function: verb
* Etymology: Middle English, from Old English fealdan; akin to Old High German faldan to fold, Greek diplasios twofold
* Date: before 12th century
transitive verb meaning:
7 a: to concede defeat by withdrawing (one’s cards) from play (as in poker) b : to bring to an end
The virtue of playing poker well is that it teaches you to ignore two of the six SWAYs that cause irrational behavior: lost aversion and commitment.
Loss aversion: “our tendency to go to great lengths to avoid a possible loss…For no apparent logical reasons, we overreact to perceived losses.”
Commitment: Loss aversion is linked closely to another sway called commitment, which is being “committed to continuing down the road they had always walked…it was virtually impossible…to take a different path.”
Where are all the Democratic poker players?