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https://www.wsj.com/articles/march-madness-bracket-ncaa-tournament-2023-upsets-princeton-ucla-4358360f

Your NCAA Tournament Bracket Is a Business School in Disguise

What can you learn from the biggest upsets in college basketball?

Princeton’s Gabe Lewullis during the team’s first-round victory over defending champion UCLA in the 1996 NCAA tournament. David E. Klutho /Sports Illustrated/Getty Images

March 16, 2023 5:30 am ET

March Madness is a delightfully inefficient market. Every year, a selection committee gathers to place a value on 68 college-basketball teams, and fans make predictions based on all sorts of information available to them. Every year, they are thrilled to be proven very wrong.

And every shredded NCAA tournament bracket is a business textbook in disguise.

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