Law Commons^™

Market Efficiency And Rationality: The Peculiar Case Of Baseball, Richard H. Thaler, Cass R. Sunstein

Michigan Law Review

In this lively book, Michael Lewis explores a topic that would seem of interest only to sports fans: how Billy Beane, the charismatic general manager of the Oakland Athletics, turned his baseball team around using, of all things, statistics. What next - an inspirational tale about superior database management? But there are some general lessons in Lewis's book that make it worth the attention of people who do not know the difference between a slider and a screwball (a group that, unfortunately, includes many lawyers and law professors). Those lessons have to do, above all, with the limits of human …