Sunday, March 13, 2011

A March Madness Pool (Modeling the Madness as a Marketplace)

We are pleased to be working with the University of Chicago on a free March Madness Pool.  Carlton Chin devised the pool with a Financial Markets class -- that models each game as a financial marketplace.  As a result, the pool is run "round-by-round."  The pool is open to all and several organizations have contributed prizes.  Note that entries are due a few days earlier than most pools to generate closing price information.

Opening pricing will be available for the first round on Monday morning.  Closing prices will be a function of market participant entries -- and will be used to award points for correct picks.  Pricing can be used as a proxy for the probability of a team advancing to the next round.  

For more information -- and to get your first round entries in -- please visit the March Madness link at CARATcapital.com.