Economics at your fingertips  

Expert performance and crowd wisdom: Evidence from English Premier League predictions

David Butler, Robert Butler () and John Eakins ()

European Journal of Operational Research, 2021, vol. 288, issue 1, 170-182

Abstract: This paper analyses the forecasting accuracy of experts vis-à-vis laypeople over three seasons of English Premier League matches. We find that former professional football players have superior forecasting ability when compared to laypeople. The results give partial support to the view that a crowd forecast offers the greatest precision. Pundits generate a positive return while both the crowd and laypeople generate losses. As the prediction of multiple score outcomes represents a computationally difficult task, both groups display forecasting biases including a preference toward specific score forecasts. The results are relevant for those concerned with gambling behaviour if the forecasting strategies adopted here generalise to match betting markets.

Keywords: OR in sports; Prediction; Experts (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.ejor.2020.05.034

Access Statistics for this article

European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati

More articles in European Journal of Operational Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2021-12-07
Handle: RePEc:eee:ejores:v:288:y:2021:i:1:p:170-182