no... set by driver preferences. usual differences will be front/rear wing set up which controls aerodynamic downforce at front/back of car respectively (ie how hard the air pushes the car down, but also increases resistance reducing top speed/acceleration).
Main difference I can think of is on some tracks Jenson Button (McLaren) is using Brembo brakes, while Lewis Hamilton (McLaren) is using Carbon Industries brakes. Other differences in set up will include:
> Brake balance - how much stopping power the brake pedal will apply to front/rear wheels - can cause oversteer/understeer in corners depending on drivers personal preference
> suspension set up (eg ride height, how firm the suspension is), can be configured to induce oversteer/understeer again depending on drivers style.
> fuel - one driver might carry a lighter fuel load which means they cannot run at 100% power for the whole race (or they will run out of fuel) but because they are lighter they can go faster and will have less tire wear - the driver might be gambling on a safety car allowing them to complete part of the race at lower power, or a poor qualifying (eg Webber in Shanghai, Rosberg in Suzuka 2011) starting at the back of the grid where traffic will limit capacity to run at full power
> tire strategy - drivers qualifying outside of the top 10 (or not setting a time in final qualifying) may chose different starting tire (option vs prime) and may also chose different strategies throughout the race.
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