I've written an online Markov Chain Monte Carlo simulator where people can experiment with pairwise team predictions in order to not just predict tournament winners, but more interestingly, to evaluate the most profitable expected payoffs from current betting odds (which are almost never the most likely teams to win).
The page goes into the statistical basis of Markov Chain Monte Carlo (MCMC) quite a bit, and the simulation is all done client-side using javascript. Might be interesting for those who like this kind of stuff.
http://www.donationcoder.com/wcp
Slashdot Mirror
I've written an online Markov Chain Monte Carlo simulator where people can experiment with pairwise team predictions in order to not just predict tournament winners, but more interestingly, to evaluate the most profitable expected payoffs from current betting odds (which are almost never the most likely teams to win). The page goes into the statistical basis of Markov Chain Monte Carlo (MCMC) quite a bit, and the simulation is all done client-side using javascript. Might be interesting for those who like this kind of stuff. http://www.donationcoder.com/wcp