I'm looking for help towards finding a proper model for the problem I'm facing. I have a data set of teams that face each other and have a binary outcome Win/Lose. I want to establish some sort of relative ranking model fitted on the data such that
- We can output the probability of win for one team given Team A vs Team B. If they have faced before, then it should be % of times A has beaten B, and vice versa.
- We can output the probability of win for one team given Team B vs C. However, B and C have never faced off before but C has always defeated A at some $P$%. Taking this, we can infer some sort of probability that C will defeat B.
- Establish some sort of objective ranking based on these W/Ls
Is there something like this that has already been developed? If so, I'd appreciate any guidance.