one philosophy
The taper approach I use is to try and maintain my normal training intensity, but at a reduced volume. For example, if you normally go out and ride for two hours with some hill efforts 4 times a week, you might want to try 3 times this week for an hour with the usual intensity. Many racers take the day two days before the race completely off, and do something short with some hard efforts the day before.
IMHO the two biggest mistakes the week before a race would be to suddenly start doing training rides harder and longer than normal, or to completely take the week off (from riding).