Moneyball, a book by Michael Lewis, highlights how the Oakland A's developed a new analytical approach to talent evaluation in baseball by focusing on overlooked statistical measures. This new sabermetric approach was a shock to other baseball executives who relied more on conventional scouting. The book also shows how cognitive biases can negatively impact decision-making. It examines how the A's general manager, Billy Beane, was more effective by constructing a framework highlighting the differences between his team's analytical approach and other executives' heuristics. Moneyball also illustrates how people tend to overestimate success and face financial losses by ignoring evidence, as teams did by forfeiting millions by not adopting the A's strategy.

1. Argosy B6025 Module 1 Assignment 3 Moneyball
NEW
Check this A+ tutorial guideline at
http://www.assignmentcloud.com/b6025-
argosy/b6025-module-1-assignment-3-
moneyball-new For more classes visit
http://www.assignmentcloud.com
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:

2. 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