theoretical question: how many callers do you want with aces?

[Lori]

Just turning this on it's head for a moment.

If all nine other players go in before you on the first hand, and you have to decide whether to play or fold.

You are somewhere in the region of 30% (If memory serves, It's been a while since I looked this up) to win this pot, and therefore the tournament.

30% of the time you will win $50 = $15 EV, the other 70% of the time, you will get a one-ninth share of the $50 for second and third prizes = $5.56.

Total EV = $20.56 for playing.

If you fold, you will always (neglecting split pots again) come second, apart from the one time in ten that you win the heads up battle that ensues.
$30 90% of the time = $27 EV, $50 10% of the time = $5 EV, total fold EV = $32.

In a ring game, however, you should always call here.

It is possible I've remembered incorrectly about the odds of aces winning a ten-way pot, but even if it's near 50% you are still better off folding!

Lori

Edited to make clearer.