Commentary on Moneyball: The Art of Winning an Unfair Game by Michael Lewis
1196 Words5 Pages
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 focus of these lessons is to clarify the efficiency of labor markets as well as the limits of human rationality. Lewis outlines the confusions and blunders of those managing baseball teams. Through this tale about baseball team managers, Lewis goes to explain how the tale has a lot to reveal about confusions and blunders in different other domains (Lewis, 2003).
The focus of Lewis is Beane’s extraordinary success. Beane has come up with a terrific and great baseball team. He has gone this far irrespective of the fact that baseball payrolls are lower. Beane took over the management of Oakland Athletics in 1999, according to Lewis. Since then, the record that has been compiled by Athletics is amazing. He uses a few analyses to explain this. Consequently, he claims that in the American League, the Athletics were ranked at position eleven out of fourteen teams in 1999. Amazingly, the team was fifth in performance. In 2000, the Athletics’ payroll ranking was twelve. In terms of wins, the Athletics was s...
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...o rational decisions being made. Eventually, the team experience huge financial losses (Thaler & Sunstein, 2003).
The lessons from the book are very many. One of these lessons is that the use of bad statistics leads to harmful repercussions. “Save” statistic is one of the examples. When a relief pitcher comes in at the last minute and finds his team ahead, then save the win, he is awarded a save. This is a dumb statistic. The player has no special significance, yet some analysts praise him so much. Instead it is the pitcher who comes in for the 6th inning and save three scoreless innings who has done more than the one who comes in the 9th inning to protect a three-run lead. This implies that for any management decision, it is important to make rational personal decision instead of just using superficial observations to make conclusions (Thaler & Sunstein, 2003).