Malmuth-Harville
What it means
The ICM calculation used in the course. The probability of finishing 1st is your share of the chips; the probability of finishing 2nd is calculated by removing the player who finished 1st and repeating with the remaining chips, and so on for each place. Your prize value is the sum of each probability times its prize.
Example
Three players with 50%, 30% and 20% of the chips and 65/35 prizes: their values are 44.4%, 32.6% and 23.0% of the prizes. The player with half the chips has less than half the money.
Also called: ICM de Malmuth-Harville · Harville
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