Editor’s note: Joshua Blumenstock is an Assistant Professor at the University of Washington and a Post-Doctoral Associate at Yale University. In this guest post he talks about research he presented at our Impact and Policy Conference.
You needed years of personal experience to pick a winner, they said. It was about trusting your gut, not the numbers. Building a team in baseball had long been the purview of salty scouts with decades of experience who had seen and delved into the psyche of thousands of players, but as is now well known and documented, moneyball changed all that. A focus on numbers and cost effectiveness, within a few short years, has upended the sesquicentenarian art of baseball scouting.
Editors note: Lakshmi Iyer is Associate Professor of Business Administration, and Marvin Bower Fellow at Harvard Business School. In our continuing series, she discusses her presentation from our Impact and Policy Conference.