Assignment 3: 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.
Write a 3–5-page paper in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M1_A3.doc.
By the due date assigned, deliver your assignment to the Submissions Area.
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
Assignment 3 Grading Criteria
Explained why sabermetric-based player evaluation is a shock to other executives in baseball.
Analyzed Beane’s effectiveness in a matrix of pitfalls and heuristics.
Analyzed a professional or personal decision that highlights the tendency to overestimate the likelihood of success.
Applied Moneyball management lessons in personal endeavors.
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.