Re: Is value of chips relative to who they are from?
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Yes, and this is already factored into ICM as you always put in the before and after stacks of everyone in the tournament.
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Precisely. You only have to have a quick play around with bubble stack sizes in an ICM calculator to see the effects. Imagine 2 3k stacks, and 2 1k stacks, of which you are one. Who would you rather double up through, big stack or other short stack? You shouldn't even need an ICM calculator to know that doubling through the other shorty is considerably better.
Hence, my extreme reluctance to fold 2 cards in such a situation when the other shorty pushes into my BB.
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