Assuming that cards are dealt with replacement from a single deck and that each of Player and Banker sees the total of his own two-card hand but not its composition, baccara is a 2 x 2⁸⁸ matrix game, which was solved by Kemeny and Snell in 1957. Assuming that cards are dealt without replacement...

<em>Baccara banque</em> is a three-person zero-sum game parameterized by \(\theta\in(0,1)\). A study of the game by Downton and Lockwood claimed that the Nash equilibrium is of only academic interest. Their preferred alternative is what we call the <em>independent cooperative equilibrium</em>. However, this...