how is the value of a win decided
in the same game, 1 win can be worth more than three wins
First off, the rating change formula is different for every game, depending on the average rating of players in the game.
Assuming average rating = "a" for simplicity:
If a = 1500, the rating changes formula is
1st = 3 wins
2nd = 1 win
3rd = 1 loss
4 = 3 losses
If a = 2400, the formula is:
1st = 3 wins
2nd, 3rd, 4th = all 1 loss
As you play higher rated games, you will see that 2nd place will gradually win less and that 4th will gradually lose less, transitioning into full solo (2400+) where all players lose the same.
Secondly, a lower rated player (or a player with a higher glicko rd (rating deviation, or accuracy of rating, higher being more inaccurate)) will sometimes be able to gain more than 1st place as a 2nd place finisher, if the difference in numbers is dramatic enough (see example below):
https://www.chess.com/variants/4-player-chess/game/28463805/119/4
how is the value of a win decided
in the same game, 1 win can be worth more than three wins