Committee Bias and Market Inefficiency, Evidence from the NCAA Men’s Basketball Tournament

Christopher C. Douglas
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Christopher C. Douglas: University of Michigan-Flint

Journal of Economic Insight, 2014, vol. 40, issue 2, 1-17

Abstract: Various studies find evidence that the NCAA men’s basketball section committee exhibits bias in the seeding of teams for the “March Madness” basketball tournament. Fewer studies examine whether March Madness betting markets are efficient. Using a decade’s worth of NCAA and point spread data that allow for additional sources of bias than what has been already considered, I find evidence that the selection committee does exhibit bias when seeding teams. Not all of these biases are eliminated by the betting market, which seems to allow for profit opportunities.

JEL-codes: G14 L83 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:mve:journl:v:40:y:2014:i:2:p:1-17

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