"Chopping" the prize money in a poker tourney is a sometimes subtle, yet sometimes obvious resolution towards the end of the competition. It is a product of analyzing relative chip position, blinds, remaining opponents (and whether you think you can outplay them), and of course the money involved. I have played in hundreds of small-medium poker tourneys over the years and have been involved in many chop situations- and each had its own idiosyncrasies.

CHOP: The good and bad.
Chopping the final table prize money is very common with amateurs as well as pro's. The thing is we don't hear much about the pro chops.
Amateurs chop for several reasons. The number one reason being, satisfaction with the final payout amount and time invested.
There is a downside however.
Players who intend on playing tournaments on different levels and who get to final table situations will not always have the option to chop and never practicing heads-up play at a final table may cost you dearly.
There are times to chop and times not to.
When the situation is right, play it out and practice, so you will have experienced what it takes to take it all down.
If your lucky, one day it may make you millions.