Definition of Independent Chip Model
The ICM is a good tool to determine the value of your stack at a particular time in a tournament or sit'n'go. For example, if there are 3 players left in a tournament and the 3 players are of equal strength, we can ask for an ICM calculation to know the value of our stack. If all 3 players accept the proposed amount, the tournament will be stopped right away and the players will pocket the money corresponding to the value of their stack. The main criticism of the ICM is that this calculation method does not take into account the talent of the players. If two players have the same stack, their stacks will have the same value according to the ICM, but in reality, the better player of the two will have a stack that should be worth more than that of his less qualified rival.
A critique of the Independent Chip Model
