For college football, the ratings minimize the WRRV (Weighted Retrodictive Ranking Violation). Special thanks to Paul Kislanko for tracking various college football models on the WRRV metric, Kenneth Massey for including the ratings in his College Football Ranking Composite, and Todd Beck for tracking the performance of the ratings at his ThePredictionTracker website. Additional thanks to Paul Kislanko, Kenneth Massey, and Eugene Potemkin for their writings regarding WRRV.
https://football.kislanko.com/2024/Compare_weighted_Current.html
https://football.kislanko.com/2017/20170912.html
https://football.kislanko.com/ratings_by_WRRV.html
https://football.kislanko.com/WRRV_2_1.html
https://masseyratings.com/ranks?s=cf&d=20250121
https://www.thepredictiontracker.com
For sports other than college football, the ratings minimize the retrodictive mean absolute error subject to having a bias of zero.