Definition of Independent Chip Model
The ICM is a good tool to determine the value of your stack at any given 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 request an ICM calculation to find out the value of our stack. If all 3 players accept the amount offered, the tournament will be stopped at that moment and the players will pocket the money corresponding to the value of their stack. The main criticism of ICM is that this method of calculation 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 will have a stack that should be worth more than that of his less skilled rival.
A critique of the Independent Chip Model
