Maniac81 sums up my thoughts on this topic nicely.
Originally posted by Maniac81
I think that your future +ev Situations must be far greater than +0.5% to make this -EV Call profitable overall.
You lose 0.5% equity in both Situations(call and win or call and lose) but in one situation you have no chance to get it back.
I think you can estimate the effect of busting out by assigning a weighted average to the future hands. For example, if you want to take a -0.5 call, this call will obviously cause you to bust X%. Should you then assign (100-X%) to the following hand expected edge because you are not expected to see this edge 100%?
I can definitely see merit to XYZ's strategy. This is actually employed in standard FGS calculations. If you use holdemresources FGS you will see that it will assign wider ranges to call situations (ie. making calls outside nash).
Can you practice it accurately? of course not... there are too many variables.
Should you be taking these spots? Yes, definitely.
How wide can I call? You can use holdemresources to help you, it will differ in each situation. From the practice I have done so far (still doing it daily), the %change is usually +-5-8% (in a range).
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In practical terms, you will probably start calling slightly wider than you were previously.
We already know that ICM is just an educated guess. Once people started thinking about FGS we know that having the big stack is crucial to steady equity gains so an ICM equilibrium will probably be skewed towards preserving that stack or trying to get it.
Please remember that this is only in equilibrium. If you put an exploitable opponent in the mix (bad reg? fish? guy sitting out?), this will affect your decisions much more than any small FGS adjustments.
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Note: I have not done extensive mathematical work on this, my ideas come from logic brainstorming and a few hours with holdemresources/FGS video etc....
I am looking at this from a more practical/experience viewpoint.
Please correct me/enter discussion if you disagree.