Yet another statistics strawman thread, eh? Rather than defend the formula for the umpteenth time (it's publicly available, there's more than enough info to figure out why teams are where they are), here are some things I'd like tweaked in it.
- some sort of diminishing return for blowouts. I don't know the data on this, but I'd say the difference between winning by 1 and by 6 is more meaningful than the difference between winning by 21 and 26. The model treats them the same but there's a lot more noise that goes into settling the final score in a blowout.
- a similar weighted return for beating bad teams. I'm guessing that teams that blow out bad teams but constantly lose close ones to good teams (ie Miami) don't tend to do well in the playoffs. I'm guessing the predictive validity of defeating teams you might face in the playoffs is higher than stomping on the Wizards a bunch of times.
I'm not sure if this should be symmetrical for losing to bad teams, though, as it seems pretty common for top veteran teams (like us last year) to have problems with that.
It seems like both of these would help rein in surprising results a bit and strengthen the model.