Predicting Bookmaker Head-to-Head Prices : Five Years On

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Recently, in light of the discussions about the validity of the season simulations written up over on the Simulations journal, I got to thinking about modelling the Bookmaker's price-setting behaviour and how it might be expected to respond to the outcomes of earlier games in the season. It's a topic I've investigated before, but not for a while.

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Ensemble Encore

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The idea of ensemble learning and prediction intrigues me, which, I suppose, is why I've written about it so often here on MoS, for example here in introducing the Really Simple Margin Predictors, here in a more theoretical context, and, much earlier, here about creating an ensemble from different Head-to-Head predictors. The basic concept, which is that a combination of forecasters can outperform any single one of them, seems plausible yet remarkable. By taking nothing more than what we already have - a set of forecasts - we're somehow able to conjure empirical evidence for the cliche that "none of us is better than all of us" (at least some of the time). 

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Really Simple Margin Predictors : 2013 Review

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MAFL's two new Margin Predictors for 2013, RSMP_Simple and RSMP_Weighted, finished the season ranked 1 and 2 with mean absolute prediction errors (MAPEs) under 27 points per game. Historically, I've considered any Predictor I've created as doing exceptionally well if it's achieved a MAPE of 30 points per game or less in post-sample, live competition. An MAPE of 27 is in a whole other league.
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Really Simple Proves Remarkably Effective

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The Really Simple Margin Predictors (RSMPs), which were purpose-built for season 2013, have shown themselves to be particularly accurate at forecasting game margins. So much so, in fact, that they're currently atop the MAFL Leaderboard, ahead of the more directly Bookmaker-derived Predictors like Bookie_3 that have excelled in previous years.
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Why You Should Have Genes in Your Ensemble

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Over on the MAFL Wagers & Tips blog I've been introducing the updated versions of the Heuristics, in this post and in this post. I've shown there that these heuristics are, individually, at least moderately adept at predicting historical AFL outcomes. All told, there are eleven heuristics, comfortably enough to form an ensemble, so in the spirit of the previous entry in MAFL Statistical Analyses, the question must be asked: can I find a subset of the heuristics which, collectively, using a majority voting scheme, tips better than any one of them alone?
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Ensemble Models for Predicting Binary Events

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I've been following the development of prediction markets with considerable interest over the past few years. These are markets in which the opinions of many engaged experts are combined, the notion being that their combined opinion will be a better predictor of a future outcome than the opinion of any one of them. It's a notion that has proved right on many occasions.
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