Match Madness : Probability Matching in Prediction of the NCAA Basketball Tournament

@inproceedings{Rea2008MatchM,
  title={Match Madness : Probability Matching in Prediction of the NCAA Basketball Tournament},
  author={Rea},
  year={2008}
}
  • Rea
  • Published 2008
Every year, billions of dollars are spent gambling on the outcomes of the NCAA men’s basketball tournament. The current work examines how individuals make predictions for one of the most popular forms of betting, tournament pools, in which individuals must correctly predict as many games in the tournament as possible. We demonstrate that individuals predict more upsets (i.e., wins by a higher-seeded team) than would be considered rational by a normative choice model, and that individuals are no… CONTINUE READING