January 25, 2011
Grand Hyatt New York
109 East 42nd Street
New York, New York 10017
7 p.m. Networking Reception
8 p.m. Presentation
9 p.m. Q&A
$35 per person; includes a copy of Scorecasting
“The Hidden Influences Behind How Sports Are Played and Games Are Won”
Tobias J. Moskowitz, Fama Family Professor of Finance, Chicago Booth
Join professor Tobias Moskowitz as he talks about his new book, Scorecasting, where he and veteran Sports Illustrated writer L. Jon Wertheim team-up to overturn some of the most cherished truisms of sports.
Moskowitz will discuss how the same hidden influences in sports are also present in life and business. For instance, how an NFL coach’s decision to punt on a fourth down is not unlike a mutual fund manager’s decision to buy or sell a stock, or how referees’ decision making when making calls resembles parents deciding whether to vaccinate their kids and why this means that officials don’t always follow the rule book.
Other examples of links between what we see in sports and business:
- Incentives (Cubs example, kicking on 4th down)
- Loss aversion (Tiger Woods example, Yale-Harvard game). Money management and investors are affected by this. Housing market affected.
- Counting vs. measuring. Counting is easy, measuring value is hard. Use value of a blocked shot example. Relate to other business practices of counting rather than measuring (tenure decisions, attendance in school, law offices, market share, sales).
- Evaluating talent. The pitfalls professional sports teams and corporations fall into when evaluating their own people as well as new hires. NFL draft example. Hedge fund examples. Dot com examples during the tech bubble.
Read an excerpt from Scorecasting >