Behavioral Finance

Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won

Topics - Behavioral Finance Market Risk and Efficiency

${ numberSection } ${ text }
Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won

Three Rivers Press

In Scorecasting, University of Chicago behavioral economist (and AQR consultant) Tobias Moskowitz teams up with veteran Sports Illustrated writer (and lifelong friend) L. Jon Wertheim to overturn some of the most cherished truisms of sports, and reveal the hidden forces that shape how basketball, baseball, football, and hockey games are played, won and lost.

Drawing from Moskowitz's original research, as well as studies from fellow economists such as bestselling author Richard Thaler, the authors look at: the influence home-field advantage has on the outcomes of games in all sports and why it exists; the surprising truth about the universally accepted axiom that defense wins championships; the subtle biases that umpires exhibit in calling balls and strikes in key situations; the unintended consequences of referees' tendencies in every sport to "swallow the whistle," and more.

Among the insights that Scorecasting reveals:

  • Why Tiger Woods is prone to the same mistake in high-pressure putting situations that you and I are
  • Why professional teams routinely overvalue draft picks
  • The myth of momentum or the "hot hand" in sports, and why so many fans, coaches and broadcasters fervently subscribe to it
  • Why NFL coaches rarely go for a first down on fourth-down situations — even when their reluctance to do so reduces their chances of winning.

In an engaging narrative that takes us from the putting greens of Augusta to the grid iron of a small parochial high school in Arkansas, Scorecasting will forever change how you view the game, whatever your favorite sport might be.

AQR Capital Management, LLC, (“AQR”) provide links to third-party websites only as a convenience, and the inclusion of such links does not imply any endorsement, approval, investigation, verification or monitoring by us of any content or information contained within or accessible from the linked sites. If you choose to visit the linked sites, you do so at your own risk, and you will be subject to such sites' terms of use and privacy policies, over which AQR.com has no control. In no event will AQR be responsible for any information or content within the linked sites or your use of the linked sites.

 

The information contained herein is only as current as of the date indicated, and may be superseded by subsequent market events or for other reasons. The views and opinions expressed herein are those of the author and do not necessarily reflect the views of AQR Capital Management, LLC, its affiliates or its employees. This information is not intended to, and does not relate specifically to any investment strategy or product that AQR offers. It is being provided merely to provide a framework to assist in the implementation of an investor’s own analysis and an investor’s own view on the topic discussed herein. Past performance is not a guarantee of future results.

 

Hypothetical performance results have many inherent limitations, some of which, but not all, are described herein. Hypothetical performance results are presented for illustrative purposes only.

 

Diversification does not eliminate the risk of experiencing investment loss.

 

Certain publications may have been written prior to the author being an employee of AQR.

This material is intended for informational purposes only and should not be construed as legal or tax advice, nor is it intended to replace the advice of a qualified attorney or tax advisor.