> Stewart Ethier has edited a wonderful new book
> entitled "Optimal Play: Mathematical Studies of
> Games and Gambling," in which there are new
> papers published by some of our best theoreticians.

> The first paper is "Advanced Insurance Play in
> 21: Risk Aversion and Composition Dependence," by
> R. Michael Canjar. I read it awhile ago, when Stewart
> sent me the book, but would have to reread it to best
> answer the questions in the above discussion.

> In any event, all the answers -- and then some! -- can
> be found in this article. In addition, there is a
> table giving the adjustments to the e.v-maximizing
> Hi-Lo insurance indices, when hand composition and
> risk-aversion are BOTH taken into account, for every
> starting holding!

> I'll try to reread the article, but, in the meantime,
> for 6 decks, S17, DAS, and a player T,T, the CD
> adjustment is to ADD 0.26, but the RA/CD index
> adjustment is to SUBTRACT 0.3 for a 2% wager and
> subtract 1.1 for a 5% wager. Of course, the Hi-Lo
> standard index is 3.0.

> Hope this helps a little.

> Don

Yes this definitely helps. Would love to get my hands on this book. From what you wrote above, Canjar's paper seems to agree with Grosjean's concept of LOWERING the index (by varying amounts, depending on fraction of BR originally bet) when holding a strong hand such as 10,10, which would be in contrast to Cac's original RA results for 10,10 found in the "Best of the Masters" section of the boards.

Thanks again Don,
rukus