more difficult questions get allocated more reasoning tokens.
higher reasoning "level" doesn't
https://arxiv.org/html/2503.04697 there is an an optimal amount of reasoning to do at inference-time and doing more degrades performance. ("overthinking"). you can design models to estimate this for themselves.
https://www.paulgraham.com/safe.html this is an analytical argument by Paul Graham; you can be "nice" (not capture the most value, in zero-sum contexts) and it won't affect your revenue/profits much at all compared to your growth rate.