Arguing about sports is as old as the games people play. Over the years sports debates have become muddled by many myths that do not match the numbers generated by those playing the games. In The Wages of Wins, the authors use layman's language and easy to follow examples based on their own academic research to debunk many of the most commonly held beliefs about sports. In this updated version of their book, these authors explain why Allen Iverson leaving Philadelphia made the 76ers a better team, why the Yankees find it so hard to repeat their success from the late 1990s, and why even great quarterbacks like Brett Favre are consistently inconsistent. The book names names, and makes it abundantly clear that much of the decision making of coaches and general managers does not hold up to an analysis of the numbers. Whether you are a fantasy league fanatic or a casual weekend fan, much of what you believe about sports will change after reading this book.
The next quantum leap beyond Moneyball, this book offers powerful new insights into all human decision-making, because if sports teams are getting it wrong this badly, how do you know you're not? Sometimes the decisions that teams make are simply inexplicable. Consider: sports teams have an immense amount of detailed, quantifiable information to draw upon, more than in virtually any other industry. They have powerful incentives for making good decisions. Everyone sees the results of their choices, and the consequences for failure are severe. And yet... they keep making the same mistakes over and over again... systematic mistakes you'd think they'd learn how to avoid. Now, two leading sports economists reveal those mistakes in basketball, baseball, football, and hockey, and explain why sports decision-makers never seem to learn their lessons. You'll learn which statistics are connected to wins, and which aren't, and which statistics can and can't predict the future. Along the way, David Berri and Martin Schmidt show why a quarterback's place in the draft tells you nothing about how he'll perform in the NFL... why basketball decision-makers don't focus on the factors that really correlate with NBA success... why famous coaches don't deliver better results... and much more.
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Anatomy of a sports disaster: Isiah Thomas and the New York Knicks. Isiah Thomas’s tenure running the New York Knicks was not exactly successful. But that’s not the way it started. William Rhoden of The New York Times stated soon after the Knicks announced the hiring of Isiah: “If you love the Knicks and don’t like this move, you must be delirious. This was a great move.”
Presenting principles of economics, this textbook aims to instill economic sensibility in the student. It emphasizes the intellectual and historical context to which the economic models are applied.
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Running the numbers in the NFL: are great black quarterbacks paid less than great white quarterbacks? At lower levels of productivity and salary, there is not much difference between how black and white quarterbacks are treated. A difference is observed when one looks at the game’s very best quarterbacks. Specifically, white quarterbacks who excel are paid more than similarly productive black quarterbacks. It appears there’s a difference in how the best quarterbacks are perceived...
This is the eBook version of the printed book. Like what you've read? Get more in Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. In basketball, spending explains less than 10% of the variation in wins. Discover what explains the other 90%! In basketball, success takes more than money. From 1997-98 to 2003-04, the Knicks finished either first or second in payroll—and won only six more games than they lost. Their “averageness” led them to hire Isiah Thomas. Few people knew more about basketball. Thomas’s path to disaster began with his first move: sending several players and draft picks to the Suns for players, including Stephon Marbury.
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Can sports decision-makers keep making the same mistakes for decades? Yes–and here’s the proof. In 1997, the Oakland A’s ranked toward the bottom in Major League Baseball, in both team payroll and winning percentage. Next season, Billy Beane became general manager. Spending didn’t change. Outcomes did. From 1999 to 2002, only the Yankees won more games in the American League. It’s been argued the key was Beane’s ability to recognize specific inefficiencies in baseball’s labor market. For the empirical evidence...
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Why NFL teams’ conventional approach to the draft just doesn’t work--and what they should be doing instead. If the NFL draft worked according to conventional wisdom, the greatest surplus value would be found at the top of the draft. However, the data suggests that picks in the top half of the second round have the greatest surplus value. This means teams in the first round, especially at the top, should be making every effort to trade down. They’ve traditionally done the opposite....
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Why sports decision-makers are wrong so often — and why they keep making the same mistakes, year after year. When Bill James introduced his findings on the importance of on-base percentage–and the unimportance of steals–decision-makers in baseball didn’t embrace his work. Their initial reaction fully reflects the lessons of behavioral economics: people have trouble accepting information that contradicts their viewpoints. The same story has been seen again and again across the North American professional sports world.
Written in an informal colloquial style, this student-friendly principles of economics textbook aims to instill economic sensibility in the student. It emphasizes the intellectual and historical context to which the economic models are applied.
The Wages of Wins is a proper analysis of the data generated by professional sports; it tells many tales that are inconsistent with the myths put forward by the media, industry, and consumers of professional sport.
This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (ISBN: 9780132357784) by David J. Berri and Martin B. Schmidt. Why NFL teams' conventional approach to the draft just doesn't work--and what they should be doing instead"--Resource description page.
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Why sports decision-makers are wrong so often — and why they keep making the same mistakes, year after year. When Bill James introduced his findings on the importance of on-base percentage–and the unimportance of steals–decision-makers in baseball didn’t embrace his work. Their initial reaction fully reflects the lessons of behavioral economics: people have trouble accepting information that contradicts their viewpoints. The same story has been seen again and again across the North American professional sports world.
This is the eBook version of the printed book. This Element is an excerpt from Stumbling On Wins: Two Economists Expose the Pitfalls on the Road to Victory in Professional Sports (9780132357784) by David J. Berri and Martin B. Schmidt. Available in print and digital formats. Can sports decision-makers keep making the same mistakes for decades? Yes–and here’s the proof. In 1997, the Oakland A’s ranked toward the bottom in Major League Baseball, in both team payroll and winning percentage. Next season, Billy Beane became general manager. Spending didn’t change. Outcomes did. From 1999 to 2002, only the Yankees won more games in the American League. It’s been argued the key was Beane’s ability to recognize specific inefficiencies in baseball’s labor market. For the empirical evidence...
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