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Bill Belichick as economist

In: Sports Economics Uncut

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Abstract

In a November 2009 game with the Colts, Bill Belichick opted for the unconventional strategy of going for a first down on 4th down from his own 28-yard line. Belichick’s decision backfired and unleashed a firestorm of criticism, even though it conformed to standard economic prescriptions. Chapter 7 scrutinizes managerial decisions in sports, showing that in cases ranging from soccer penalty kicks to allocation of playing time they approximate the basic principles of economics or statistics. However, faced with mountains of information, managers frequently fall back on convention, sometimes in robotic ways as in the near universal adoption of 9th inning-only relief pitchers in MLB. In addition, highly uncertain, risky decisions contribute to deviations from simple managerial principles, as shown by NFL data on decisions to go for 4th down conversions. The politics within organizations accounts for poor managerial decisions, as the Penn State child abuse scandal shows.

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  • ., 2018. "Bill Belichick as economist," Chapters, in: Sports Economics Uncut, chapter 7, pages 102-119, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18305_7
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    Keywords

    Economics and Finance;

    Statistics

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