[pineapple888]

Well, in a SnG, the decreasing marginal utility of chips is trivial. If you get all the chips in a SnG, you only get half the prize money. With only 10 players and rapid blind increases, this simple fact completely dominates all other effects.

I think you are confusing this simple mathematical concept with another vital concept: how to play a big stack well. That's a concept about which entire books could be written.

Or, if your point is that ICM doesn't have all the answers, I agree completely. When to go against ICM, or to recognize that your opponents probably will, is part of the artistry of poker.

In a large MTT, OTOH, the mathematical decreasing marginal utility of chips takes a while to become significant, and personal playing styles can take precedence. If you are good with a big stack, it's +EV to take more chances to build one than if you are someone who isn't.