Quote:
7. What principles are the ratings based on? The LG ICC ODI Championship table is based on the following seven principles:
i) It is based on individual matches, not on series of matches. While the result of an ODI series will remain important for the competing countries, the ratings treat each match as an entirely separate event. Therefore every ODI will count (apart from No Results) and there is no need for a stipulated minimum series length.
ii) All ODIs are treated equally. Although the ICC Cricket World Cup final will have more at stake than any other match, every ODI is subject to the same formula for ratings purposes.
iii) No account is taken of venue. Whether a side wins an ODI at home, away or at a neutral venue will not affect the ratings.
iv) No account is taken of margin of victory. The rating system records only whether a team has won, drawn or tied each match.
v) More recent results have a greater impact than older matches. To ensure the ratings fairly reflect current form, the weighting given to a particular match reduces as times passes.
vi) The method allows for the different strength of opponents played by different countries. While each team plays each other on a regular basis, a full programme of matches will not take place within the timeframes necessary for a rating system. It is therefore inevitable that some countries will have an "easier" set of ODI fixtures than others and that the method should compensate for this.
vii) The method should be as transparent as possible given the inevitable complexity of any such system. This means that the formula generating the ratings is publicly available. The ratings can be updated by anyone who chooses to apply the published formula. This also means it is possible to work out the effect future results would have on the ratings.
That's taken from the ODI website; note this in there:
