Quote from illiquid:
It's pretty shaky as I just don't play enough to have my outs down by rote. I can do the routine calculations but I suppose the implied odds would be far more significant here.
My question would be, do the pot odds usually hold up in decision making anyways, given that the better players may shut down if a threatening turn/river falls? Also, how does the stack size of your opponent figure into whether you call/raise or fold? Do you take more chances vs a short stack that is already all-in, and therefore your loss is limited, and conversely play more conservative vs large stacks? Or is this "gut instinct" something better players take advantage of and is to be avoided?
I use the pot odds preflop from late position to enter post which I might not otherwise be in. If you are in the small blind and there are 4 limpers and you haven't seen the bb punishing limpers too often, you can complete with a marginal hand because you are getting 9-1 odds on your money. Flop a monster or you're easily done with the hand.
Post flop, I understand what you mean with your question. In my mind, pot odds relate to what Sklansky calls the Fundamental Theorem of Poker - that is, every time you induce in your opponent a play that they would not have made if they could see your cards, you win money. Conversely, every time you call when you would have folded had you been able to see your opponent's cards, you lose. The actual result of the hand does not matter to Sklansky.
So by controlling the post odds you are attempting to make money in the long run. With regard to what the player might do on later streets, I think that for now you can just be concerned about the street you're on. If you have top two pair and you suspect your opponent is on a straight draw, you can bet in such a way that his calls are a mistake, no matter what the eventual outcome of the hand, because he was not getting the odds to call.
Implied odds are an important consideration, especially when playing bigger stacks. If you are drawing to the nut flush, and you are in with two guys who have been calling and betting like maniacs, you know that if your card hits you will probably make some money and that does affect your calling decisions.
Stack size... even though I personally am less inclined to get involved in big pots with big stacks when I also have a big stack, I don't think seasoned players fell this way. Definitely not at cash games. At this point it is very hard for me to look at a short stack and avoid feeling more aggressive or more likely to play the hand down. In the end, though, for me, it is about the way the gu is playing, and not his stack size.
One thing is for sure. You will see a big stack bullying and throwing chips around. The you will get involved in a hand with him, and you will have top pair, top kicker. And you will be betting. And he will be calling you in an offhanded manner, perhaps while carrying on a conversation with the guy beside him. And you are going to wonder - is THIS the moment where the guy is going to show you a big hand?
Last... there is less pure bluffing going on than you might think. Others can weigh in here but this is what I have seen.
