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TOURNAMENT DEAL CALCULATOR
This is a calculator that lets you calculate the mathematics of making a deal at the end of a tournament. Right-click setuptournament.xls and select Save-As. You can also get this from my download page. All you have to do is fill in the information in the yellow boxes. The mathematics are based on this pihlosophy: If there are 2 players left in a tournament and they have 25% and 75% of the chips respectively and the payouts are $2,000 and $1,000. Then both players will be winning a minimum of $1,000. This means they are both playing for the rest of the money. If a player has 75% of the chips then he has a 75% probability of winning that extra $1,000 (this assumption can be argued but is very close to being true). Based on this, his expected value on the extra money is $750 and the others player (who has 25% of the chips has an epected value of $250 on the extra chips. This means player A has a payout of $1,750 (the sure $1,000 plus the "expected" $750) and player B has a payout of $1,250 (the sure $1,000 and the "expected" $250).
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