Moneyball. Sabermetric-Based Player Evaluation by Beane Term Paper

Moneyball. Sabermetric-Based Player Evaluation by Beane - Term Paper Example Some of the major baseball teams in the world include the Pirates, Red sox, Yankees that play in the Major League Baseball, the American League, or the National league. Subject to the publicity, stiff competition, and economies of money involved in this sport, team managers adopt various strategies to win most games. Moneyball by Michael Lewis is a book that seeks to divulge information on how baseball teams should conduct their businesses in order to remain effective. However, a review article â€Å"Who’s on First?† by Thaler & Sunstein (2003) draws some criticism on the book. This paper will hence examine and evaluate the review article â€Å"Who’s on First?† by Thaler & Sunstein (2003). Sabermetric-Based Player Evaluation The sabermetric-based player evaluation used by Beane was a great shocker to other executives in baseball. In his evaluation, Beane took interest on how much a player was likely to contribute to his team's chances using scientific anal ysis (Thaler & Sunstein, 2003). In doing this, he relied on objective evidence rather than subjective evidence used by other executives. With the limits of human rationality and inefficient labor markets, Beane chose to ignore baseball's conventional wisdom in evaluating the performance of players to the surprise of other baseball executives. Indeed, in a conflicting situation between Beane and DePodesta's statistical methods of evaluation and other evaluation strategies by other baseball experts, statistical methods proved efficient to conventional statistics that were inefficient and often misleading (Thaler & Sunstein, 2003). As a result, Beane produced an amazing performance despite working on lower payrolls compared to other baseball teams. Indeed, Beane’s team, the Athletics was ranked eleventh in payroll(out of fourteen teams) and fifth in wins in the American League in 1999 but jumped to twelfth in payroll and first in wins in 2002 to the shock of other baseball execu tives. Ideally, Beane evaluation on players proved that players drafted out of high school are much less likely to succeed than players drafted out of college. Hence, against the practice of other executives, Beane did not recruit any talent from high school. Nevertheless, the new recruits that other teams neglected became great performers and other teams ended up buying them from Athletics thus improving its payroll. His ability to evaluate and recruit first-rate talent without a lot of money and using statistical methods to replace the lost players was also a great shock to other executives. In addition, the way Beane evaluated the performance of players in the field was also intriguing to other executives. He notes that the use of errors to evaluate the fielding ability of a player is so crude (Thaler & Sunstein, 2003). To this, he argues that a player may accumulate errors due to luck and thus in appropriation in evaluating his ability based on this. In addition, he notes that t here might be luck in batting many runs subject to playing in good teams or having many opportunities. All this was a negation to the conventional beliefs adopted by other executives. Most shockingly, is the fact that Beane’s statistical evaluation of players led to his team’s greater success on the American League although Athletics had a low pay roll. Subsequently, major teams in the league like Boston Red Sox and Toronto Blue Jays are now hiring general managers who adopt Bean’s mode of evaluation (Thaler & Sunstein, 2003). Why Beane is Much More Effective in His Success Beane was much more effective in his success as compared to other baseball executives. This was subject to his statistical evaluation of players, disregard of the conventional wisdom in baseball, and