re: Poker & Fold Equity
Yeah, I suppose you could say that. The fold equity is what makes a semi-bluff profitable, for instance. The chance of hitting our draw doesn't make raising good in itself; only coupled with the chance that our opponent will (incorrectly) fold does it become playable.
In some cases, most notably in limit hold 'em, you want your opponent to make a "bad" fold with the worst hand. Like this:
I have 7-7 and raise it up from middle position. One cold-caller on the button and the big blind calls as well. The flop comes K-8-8.
As it turns out, the cold-caller has A-5, so I have him crushed, but the blind has QJ. When the blind checks to me, I bet, button calls (with his three outs, I'm making money off of this) and then the blind folds!
That's great for me. The big blind had six outs to beat me, but must have gauged that he had much fewer live outs than that, so he folded. When that happens - managing to fold out a six-outer in an 8-bet-pot - it's very good news. Sure, we were favorites to beat his hand, but poker isn't a game about favorites. The equity he gave up cost him more than it would have to call a bet on the flop, but he didn't know that - for all he knew, I could have been holding AK or AA or some other hand that effectively gave him only runner-runner outs - so he folded.
Inducing incorrect folds is as much a part of a good limit hold 'em player's arsenal as inducing incorrect calls.