Publikation:

Match madness : Probability matching in the prediction of the NCAA basketball tournament

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Match_madness.pdf
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Datum

2008

Autor:innen

Hirt, Edward R.

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Open Access Green
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Published

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Journal of Applied Social Psychology. 2008, 39(12), pp. 2809-2839. ISSN 0021-9029. eISSN 1559-1816. Available under: doi: 10.1111/j.1559-1816.2009.00551.x

Zusammenfassung

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 better than chance at doing so. These predictions fit a pattern of probability matching, in which individuals predict upsets at a rate equal to past frequency. This pattern emerges because individuals believe the outcomes of the games are non-random and therefore predictable.

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Fachgebiet (DDC)
150 Psychologie

Schlagwörter

Judgment, Sports gambling, Social prediction

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ISO 690MCCREA, Sean M., Edward R. HIRT, 2008. Match madness : Probability matching in the prediction of the NCAA basketball tournament. In: Journal of Applied Social Psychology. 2008, 39(12), pp. 2809-2839. ISSN 0021-9029. eISSN 1559-1816. Available under: doi: 10.1111/j.1559-1816.2009.00551.x
BibTex
@article{McCrea2008Match-10794,
  year={2008},
  doi={10.1111/j.1559-1816.2009.00551.x},
  title={Match madness : Probability matching in the prediction of the NCAA basketball tournament},
  number={12},
  volume={39},
  issn={0021-9029},
  journal={Journal of Applied Social Psychology},
  pages={2809--2839},
  author={McCrea, Sean M. and Hirt, Edward R.}
}
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