Learning and rating systems Warren D. Smith Abstract This report studies rating systems: systems that produce quantitative measures, called ``ratings,'' of the ability of players in a league, based on game results. By ``quantitative'', it is meant that win odds for a game between two players in the league may be estimated from their ratings. We consider both `static' and `dynamic' systems. The latter update the ratings after each game. Attention is given to noise in rating systems and to the distribution of ratings in the player population. Some real-world data is also included. This subject may be of interest to gamblers, gaming leagues, psychologists, consumer groups, and industry. Keywords Game playing, learning, rating systems, pairwise comparison.