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 “Who’s on First?” by Thaler & Sunstein (2003) from this module’s assigned readings. This article reviews the book Moneyball by Michael Lewis.
- Thaler, R. H., & Sunstein, C. R. (2003). Who’s on first? New Republic, 229(9), 27–30. 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 Beane’s team and other executives.
- Moneyball highlights how people tend to overestimate the likelihood of success and end up facing financial loss—in 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 Moneyball’s management lessons in your own endeavors.
Write a 3–5-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), 59–65. http://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?sch=auo&turl=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=4039074&site=ehost-live
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