Lately there's been a significant growth in the number of tournaments that stay open for late registration.
It's a good thing in that it allows a far greater number of entrants, and you don't have to miss your favourite tournament because you're still playing the final table of one you started ages ago.
Now, with a tournament that has 2 hours of late registration, and standard 12-15 minute blinds, is it best to join at the start, when you'll have 150 BBs, or near the end of late reg, when you'll have around 30 BBs?
I know it sounds simple and you should just start with loads of BBs, but at the start you'll be battling far more players, giving you both a greater chance of building a large stack but a somewhat equal chance of going out early.
When you join 5 minutes before the end of late registration you usually have roughly half the average stack, but with that comes up to half the number of total entrants still running, so half the number of opponents as well as a more clear view of the table dynamics due to stack sizes etc.
What should I factor in, and if possible, how could I calculate my expected value for entering at various different stages of late registration?