Simulating a basketball match with a homogeneous Markov model and forecasting the outcome
AbstractWe used a possession-based Markov model to model the progression of a basketball match. The model’s transition matrix was estimated directly from NBA play-by-play data and indirectly from the teams’ summary statistics. We evaluated both this approach and other commonly used forecasting approaches: logit regression of the outcome, a latent strength rating method, and bookmaker odds. We found that the Markov model approach is appropriate for modelling a basketball match and produces forecasts of a quality comparable to that of other statistical approaches, while giving more insight into basketball. Consistent with previous studies, bookmaker odds were the best probabilistic forecasts.
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Bibliographic InfoArticle provided by Elsevier in its journal International Journal of Forecasting.
Volume (Year): 28 (2012)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/ijforecast
Sports forecasting; Probability forecasting; Monte Carlo; Simulation; National Basketball Association;
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