Faculty Advisor

Paffenroth, Randy Clinton

Faculty Advisor

Skorinko, Jeanine LM

Abstract

This interdisciplinary project covers two important aspects of online daily fantasy sports: users' choices about which contests to enter into, and which contests posted by DraftKings will be profitable. From the psychology perspective, we explored whether the anchoring and adjustment effect, the compromise effect and the attraction effect occur when participants choose a contest to enter. We ran three experiments and found significant results for the compromise and attraction effects. From the mathematics perspective, we built a predictive algorithm using linear regression, Kalman filtering and random forests to predict whether a contest would fill to its maximum number of entrants based on historical data. We predicted with higher accuracy than current methods utilized by DraftKings.

Publisher

Worcester Polytechnic Institute

Date Accepted

April 2019

Major

Interdisciplinary

Project Type

Major Qualifying Project

Accessibility

Unrestricted

Advisor Department

Mathematical Sciences

Advisor Department

Social Science and Policy Studies

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