To answer OP's questions...
1.
If chip stacks and skill levels are even, then it usually makes sense to make a deal. At that point it really depends on your tolerance for variance as to whether you want to keep playing it out. (The bigger the score is for you relative to your bankroll or other financial considerations, the lower your tolerance for variance should be.) Plus there's always the factor of saving the time it would take to play it out.
Of course, really even is rarely the case, but even when I think I have an edge I'm open to a deal if stacks are getting short enough that that edge is going to matter less than who gets the big hands. (Especially if I can get a premium in the deal for my skill edge.)
2.
I'm not really sure what the questions that need answering are here, but I'll try.
I don't really think the medium stacks should want to get involved with a big stack any more in a PKO. The biggest adjustment may be that since the big stack's range may be wider in an effort to collect bounties, you can call a little lighter, but the ICM effects still kinda handcuff you here, maybe more so because of the bounties. You don't want to be getting in situations where you have a significant chance of busting before a shorter stack, of course, but you also don't want to lose the opportunity to bust them yourself and win their bounties.
Quote:
Originally Posted by PaulyJames200x
Sure you will most likely bust in 5th but doing a deal only gets you a bit better than 4th place at best?
If you're short enough that the likelihood of busting 5th is quite high, then getting better than 4th place money is a good result.
I'm not sure what the rest of the question is, but yes, part of adjusting to ICM as a medium stack is adjusting for how soon the shorter stacks are likely to go out. You probably don't want to play overly tight as a 30BB stack to try to outlast a 20BB stack, but a 6-8BB stack, certainly.
3.
I mean, whether you want a deal depends less on your stack and more on your perceived edge and tolerance for variance, I think.
You're not wrong that a chip leader has more to lose, but by the same token, ICM factors that in, and an ICM chop may not give them the value they think they have in their stack, particularly if they think they play a big stack well. In a situation where you have a massive chip lead, you may be able to ask for more because you can leverage it by picking up pots and putting people all-in knowing that they have to call pretty tight and that you won't really be hurt even if you lose the hand. If you're good at that and comfortable with doing it, it may be worth asking for more, or just continuing to pressure people until you have enough chips to get the deal you're satisfied with.
Getting first-place money (or more) is rare but it can be done with a significant chip lead and skill edge, particularly the bigger the tournament is. If the other two are at the point of flipping for money that would be substantial to them, they may be willing to pay a small premium to secure more money. (I think it's in the
Endgame Poker Strategy section on deals-- solid resource on the topic, BTW-- that mentions Samuel Vousden got more than first-place money in a 3-way Sunday Million deal in a situation like this.)
(Brag: I did this once in the olden days, in a Stars 22/180. I had a massive chip lead on the other two and they were getting short enough it would've just been flipping coins for the difference between second and third, so they agreed to a chop. I asked for $0.01 more than first, just so I could say I once made a deal where I got more than first-place money. And now I have.)
(Maybe they gave me $.02 more so it was $.01 from each of them. It was like 17 years ago, I don't remember the details.)
4.
I don't know which one would be better. Of the sites I play on, only ACR allows deals, and they show which players are willing to discuss a deal. I'm not sure how much info can accurately be gleaned from that, though. I've seen some good players show interest in deals. And if someone wants to talk deal because they're afraid to gamble at these stakes and are going to play weak-tight, that'll show up in their play soon enough.
5.
When a deal is reached in a PKO, I believe you just win your own bounty as part of the deal. (This, I think, disincentivizes deals, since the bounty won't have much correlation to the current chip stack-- especially heads up since first and second are so similar and the bounty difference is what you're playing for, which isn't part of the dealmaking at least on ACR.) I'd guess for more than two people the regular prize pool would be handed out by ICM, yeah.
I've never seen a deal in a Mystery Bounty, so I don't know what happens. If there's a price for each player ITM (or wherever the bounties start), then I would guess each remaining player gets one extra draw at a bounty (or gets their own bounty, if the site assigns the bounties randomly to each player at the start of the bounty period instead of awarding them as players bust). If there's one bounty fewer (because the winner will not bust), then I have no idea. I don't think I've seen any site in a long time that continues play after a deal has been reached, though, unless it leaves something to play for. (Stars used to let you customize deals, leave money to play for, and play it out, at least. ACR only allows straight ICM deals, no adjustments, and when a deal is reached the tournament ends.)
As far as my own experience...
I'm generally willing to make deals in bigger field tournaments, where the prizes tend to be large relative to the buyin, but again, online it depends on whether I find the table or situation favorable. If I'm in an awkward spot in terms of stacks or position I'm more willing to deal. (Since online I'm talking about ACR, there's no option to customize a deal, so to take exactly ICM I have to feel like I don't have a significant edge and/or the risk or variance isn't worth securing what I can.)
Live... since I started playing again I've made three final tables up here. One I managed to bust out on the first hand so the opportunity never came up.
The second, deal talk also never came up, but people didn't really seem to value their tournament life. (There was a spot where one really short stacked player accidentally exposed her cards and got a one-round penalty, and even though they could have waited because the blinds passing would have been a substantial hit to her stack, two people busted out before she got back to the table.) It wasn't a particularly big tournament, so it didn't come up even three-handed, which did last a while-- but then I got two big hands and coolered the chip leader twice in a row to bust him, and then I had a 10:1 chip lead to start heads-up and I have a lot of heads-up experience, so I just played it out.
The third, I was the chip leader for a while but then lost a decent pot and another guy got on a hot run. I was second in chips three-handed and the chip leader offered an even chop. We were deep enough I would've been happy to play it out, but at the same time an even chop still gave me more value than my stack was worth by ICM, so I took it.