Moneyball, a book by Michael Lewis (2003), highlights how creativity, framing, and robust technical analysis all played a part in the development of a new approach to talent management in baseball. It also exhibited great examples of the biases and psychological pitfalls that plague decision makers.
Review the article Whos on First? by Thaler & Sunstein (2003) from this modules assigned readings. This article reviews the book Moneyball by Michael Lewis.
- Thaler, R. H., & Sunstein, C. R. (2003). Whos on first? New Republic, 229(9), 2730. http://ehis.ebscohost.com.libproxy.edmc.edu/eds/detail?sid=382ae552-96f2-446c-8371-3877f6f0ad63%40sessionmgr111&vid=1&hid=116&bdata=JnNpdGU9ZWRzLWxpdmU%3d#db=pwh&AN=10644212
Write a critique of the article including the following points:
- Examine why sabermetric-based player evaluation is such a shock to other executives in baseball.
- Evaluate why Beane is much more effective in his success by constructing a matrix of pitfalls and heuristics that highlight the differences between Beanes team and other executives.
- Moneyball highlights how people tend to overestimate the likelihood of success and end up facing financial lossin this case, it meant forfeiting millions of dollars. Analyze a professional or personal decision (yours or otherwise) that highlights this predilection in spite of substantial losses.
- Explain how you would apply Moneyballs management lessons in your own endeavors.
Write a 35-page paper in Word format.
Apply APA standards to citation of sources.
By Wednesday, March 15, 2017, deliver your assignment
Lewis, M. (2003). Moneyball. New York, NY: W. W. Norton & Company.
Hayashi, A. M. (2001). When to TRUST Your GUT. Harvard Business Review, 79(2), 5965.