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Originally Posted by Native Texan III
I very much doubt that last sentence.
Logistic Regression is not suited at all to solving horse race competition within competition type problems, as Benter found after years of struggling with it in a place with just two tracks. Being first in a blind market as the one eyed man, even with a half-assed method, is more convincing as to cause rather than imagining effect is the cause. That local success has evaporated and would not apply in any Western markets in any case.
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I can gaurantee that Multinomial Logistic Regression is EXTREMELY suited to calculating win probabilities.
I can also gaurantee that other than the first 2 years, Benter (nor Woods and the rest) never struggled with implementing it.
