Independent Chip Model (ICM)
by Morgoth
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3. Summary
Some will be disappointed that this article did not provide the philosopher's stone for making a winning player on all SNG limits with the wave of a hand. It is much more about building a foundation for analyzing your endgame play in SNG's and also MTT's and for making rational decisions in those contexts. It is not about how to act in special situations. Such examples are addressed in following articles and in the example hand forums.
A knowledge of the ICM is without question a prerequisite for a successful SNG player. It is a good model for describing the $EV in a tournament and for drawing conclusions from it. It is, however, only a model and both it and the decisions based upon it are fallible.
An important axiom follows from the limitations mentioned above, with which I will end the article:
Given calculations by the ICM, make all +$EV pushes and make no -$EV calls. However, sometimes you should make a -$EV push or leave a +$EV call.
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