I have the following (bad) strategy when it comes to chops: if I'm in a tourney and we're down to the top ... whatever ... and people start talking about chopping, if the consensus is to chop, I'll chop; if it's to not chop, then I'm fine with that too. I know this isn't +EV as I should look for my own best spots to chop / not chop rather than let others dictate, it is just "one of those things" that I let slide into the -EV. I've done chops at the Final 9 where I was cool with it and been down to two with another guy who wouldn't chop with me ... and then won the tournament every time this scenario came up, except that once. But we won't talk about that one time.
This is usually either hundreds up through a few thousand dollars. I don't know about bigger events -- whether I get $1,200 as a payout or $2,000 is pretty irrelevant to my life, but if I were playing where, say, like last year David Williams got $2.5 million and Grey Raymer got $5 million, I doubt I'd chop there as the money is already going to be life altering -- and I'd rather play for the title. My life isn't going to be that much different with 3.75 million vs. 2.5 or 5, if that makes much sense.
So I guess my inclination is NEVER to chop unless others want it and then I just can't be bothered -- unless I'm playing for a title.
Or something.
Barron Vangor Toth
www.BarronVangorToth.com
Needs to think about this more. Or less. Not quite sure.