Convergence and stationary distribution of Elo rating systems
| Autor: | Cortez, Roberto, Tossounian, Hagop |
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| Rok vydání: | 2024 |
| Předmět: | |
| Druh dokumentu: | Working Paper |
| Popis: | The Elo rating system is a popular and widely adopted method for measuring the relative skills of players or teams in various sports and competitions. It assigns players numerical ratings and dynamically updates them based on game results and a model parameter. Assuming random games, this leads to a Markov chain for the evolution of the ratings of the $N$ players in the league. Despite its widespread use, little is known about the large-time behaviour of this process. Aiming to fill this gap, in this article we prove that the process has a unique equilibrium to which it converges in an almost-sure sense and in Wasserstein metrics. Moreover, we show important properties of the stationary distribution, such as finiteness of an exponential moment, full support, and quantitative convergence to the players' true skills as the update parameter decreases. We also provide Monte Carlo simulations that illustrate some of these properties and offer new insights. Comment: 24 pages, 4 figures |
| Databáze: | arXiv |
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