Commentary on Moneyball: The Art of Winning an Unfair Game by Michael Lewis
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What Michael describes in his new book is very sensational. Michael handles a topic which in the reality would be interesting only to sport s fans and makes it fit into the field of economics. Michael outlines the way Oakland Athletics’ general manager, Billy Bean, who is described as very charismatic, used all means including statistics to transform his team. Apart from bringing out this exceptional move by Billy Bean, the author goes further to discuss an inspirational story regarding superior database management. This means that Lewis’s book is packed with a lot of items which makes it not only a reserve for those who can differentiate between a screwball and a slider. The book has some broader lessons for everyone to read. The main…show more content… This is because it compares the old baseball wisdom with statistical knowledge and comes up with unexpected findings. While the old scout is claiming that the player is an athlete, Beane believes that there is a lot of worries and upside in that. While the old scout is claiming that the player is not badly off in hitting, Beane is saying that the player cannot hit. When the batting statistics of the college player, it was found that he conspicuously lacked extra base walks and hits. This revelation shocks many. It favors Beane’s arguments. Therefore, statistical knowledge prevails over the old baseball wisdom (Thaler & Sunstein, 2003).
Lewis goes ahead and responds to what make professional baseball executives, who are so old and experienced in the field, make a lot of colossal mistakes. These professionals are not only paid dearly, but they are also specialists. With them is the incentive of evaluating their talent correctly. However, they still blunder. There are three clues into the likely cause of this failure or blunder. The first of these blunders is that those professionals, who have ever played the game in most cases, over generalize their strategies from personal experience. They think that they have a typical experience when in the real case, that is hardly possible. The second clue is that the professionals were excessively affected by a player’s most recent performance. In the real sense, recent performance is not a good guide