Examples of the biases and psychological pitfalls

Reference no: EM13759122

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.

Reference no: EM13759122

Questions Cloud

Weaknesses of john deeres achieving excellence program : Discuss the strengths and weaknesses of John Deere's Achieving Excellence Program. Consider and discuss other criteria to include in the analysis

Societal cost of pesticides : Suppose the repeated application of a pesticide used on orange trees contaminates groundwater. The pesticide is applied annually in almost all of the orange groves throughout the world. Most orange growers regard the pesticide as a key input in th..

To whom do managers owe their allegiance : To whom do managers owe their allegiance? Group 1-Is it to Employees or government agencies that regulate the business? Be sure to support your answer with ethical principles and examples.

Write short story about a worn path and the gift of magi : write short story about "A Worn Path" by Eudora Welty and "The Gift of Magi" by O Henry. How does the symbolism show a conflict between Mrs. Mallard and her own desires?

Examples of the biases and psychological pitfalls : 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 an..

A patient information system for mental health care : Read the case study titled "A Patient Information System for Mental Health Care". Develop an overall architecture for the system described in the assigned reading

A peer-reviewed journal : A peer-reviewed journal is one in which other experts in the specific field read and critique the author's article, including their research and results, before it can be published in the journal.

Create a detailed diagram or set of diagrams : Create a detailed diagram or set of diagrams to show how the letter A is transmitted in an electrical, light, and radio wave. Show the similarities and differences between how data is transmitted in these three processes

Discuss the new equilibrium price and quantity : Discuss the new equilibrium price and quantity that result from these changes. Can you demonstrate some of these changes graphically?

User Account

All Pages