FanGraphs Chat – 10/17/12

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October 17, 2012





 

Dave is the Managing Editor of FanGraphs.

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Pete
11 years ago

Dave, your tweet about whether Girardi would have done it the other way around if A-Rod had started was a perfect demonstration of the endowment effect, a key concept in behavioral economics (think Freakonomics/Gladwell). Basically, we make irrational decisions based on what we have in our hands, regardless of low transaction costs. Put it another way: intertia.

Anyway, Girardi’s decision — or lack there-of — was foolish but in lots of company.

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