Chopping in Tournaments

[Extremophile]

When do you guys chop in MTTs and what is the best way to do it? There are some times chip chop not favoring the short stack since it gives less than the prize given by the site. Can we use ICM to do it?

[baudib]

When chipstacks and skill level appear fairly even, or if you feel you are not exactly at your best (it's 5 a.m., you're tired, need to get to bed) it's good to consider chopping.

[drmcboy]

To add to baudin, I'm more likely if blinds are high and people are gambling.

Also if the prizes are larger than normal compared to my BR

[chardrian]

there are rarely times in online mtts where I would not consider a chop.

stacks are usually not deep enough; skill levels are usually not that varied; prize jumps are usually huge = at least bring the idea of a chop up.

[linaker]

There are some times chip chop not favoring the short stack since it gives less than the prize given by the site.

The short stack would be mad to accept a chop that gives less than the prize given by the site. I thought the standard way (which may be the ICM way) was to allocate everyone the minimum prize and then divide the remainder of the prize pool by chip count.

So if there are 4 people left and the prizes are $10, $20, $30, $40, everyone gets $10 and then $60 is divided according to stack sizes. ie If there are 100, 000 total chips, someone with 1000 chips gets 1% of $60, so $10.60 in total and someone with 50,000 gets 50% of $60 so $40 in total.

[Silly String]

People with shorter stacks are certainly getting hosed with that method. I would only chop this way if I were a big stack. At the end of tournaments with shallow stacks the outcome can be largely affected by luck. The spread should be narrowed to reflect this luck factor.