Assignment: Moneyball
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.
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.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
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.