Determining decision-making effectiveness using NCAA basketball tournament results
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ABSTRACT:
The present research evaluated and compared the decision-making effectiveness of an expert individual (TSN), two pooled groups of experts (AP, UPI), two formula-based approaches, and an ad hoc group of experts that made use of a formula (NCAA). The rankings of these archival data bases were used to predict the number of games each team won in the NCAA men's basketball tournament. Results indicated that all the ranking strategies made accurate predictions of the outcomes of tournament games, and were remarkably similar in predictive accuracy. These results, using a non-laboratory problem solved by experts, are inconsistent with the findings of most laboratory research in decision making. The results reinforce the need for more non-laboratory research stated by many critics of group decision-making research.
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