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Moneyball, by Michael Lewis Essay

Assignment id 1014633
Discipline Other
Assignment type Essay
Words 2177
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The tension between the uses of subjective versus objective information is a literature which formulated after introduction of money ball. Researchers have been keen to dig in the usefulness of this concept posed by the book money ball. The major idea in money chunk in easy terms is that statistical investigations are much better predictors than our instinct. However, "Moneyball" supplies a "playing field" for all topics of interest to direction it speaks to a continuing discussion in human judgment and decision- making (Brockner & Flynn 2006). The continuing debate stems from whether individuals in associations should rely on statistics or intuition to produce judgment and make decisions (2006). The tension between using statistics or intuition has led to a formation of many theories within the area of behavioral decision making, behavioral economics and behavioral finance (2006). But, it's been found that people rely upon cognitive shortcuts, intuition and gut feeling when making decisions (2006). Notwithstanding, with the coming of the book "Moneyball" there were technological advancement to apply the theory in other areas such as management. This paper will explore the literature about "Moneyball" and its effect in management. First, an overview of "Moneyball", '' the New York Times bestseller "Moneyball" is a book about baseball, so it describes how Billy Beane a general manager of the Oakland team alters major league baseball by utilizing sabermatrics a statistic strategy for creating and implementing target understanding in baseball (Wolfe et al. 2006). He utilized this strategy to determine the traits most correlated with a player's true value and this had an important implication from the building, trading and countless players and in...

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