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1 | question | answer | page | required | chapter | Higher Bloom | ||||||||||||||||||||
2 | What is the difference between irrationality and stupidity? | Irrationality focuses on the ability to make the correct decision, but an irrational person isn't necessarily stupid. | 3 | SOW1 | X | |||||||||||||||||||||
3 | Why do we not expect athletes to fall victim to over-characterizing their abilities? | It's easier to measure productivity in sports because of all the statistics that are available. The same types of stats are not available in the workplace. | 4 | SOW1 | X | |||||||||||||||||||||
4 | If athletes' productivity is so easy to measure, why is it so hard to be successful? | It's hard to see how stats translate to wins and past performance isn't always indicitive of future performance. | 5 | SOW1 | X | |||||||||||||||||||||
5 | What does it mean when economists think about a labor market being efficient? | Players are paid in line with their expected productivity. The most productive get paid the most. | 8 | SOW1 | X | |||||||||||||||||||||
6 | Why isn't as simple to declare the winner of sports to be the one with the most resources? | You have to know how to use those resources and there is some luck involved as well. | 13 | SOW2 | X | |||||||||||||||||||||
7 | What is the main incentive problem between player pay and team winning? | The stats that are most likely to help the team win are not the same stats that help a player get paid | 23 | SOW2 | X | |||||||||||||||||||||
8 | Why could scoring illusion be a detriment to team performance? | You see a player scoring a lot and assume he's helping the team, but he may be really inefficient and miss a lot of shots | 28 | SOW2 | X | |||||||||||||||||||||
9 | Why do teams even track statistics to begin with? | The goal is to separate the player from the team to try and see who was repsponsible for success. | 33 | SOW3 | X | |||||||||||||||||||||
10 | What was an interesting employment trend for black and white Hall of Fame quarterbacks? | White quarterbacks tended to play for only one team most of their career even with bad seasons while black quarterbacks played for multiple teams | 61 | SOW4 | X | |||||||||||||||||||||
11 | What is the economic rationale for requiring college athletes to enter a draft system for playing in the professional leagues? | It lowers the cost of teams trying to acquire different players | 69 | SOW5 | X | |||||||||||||||||||||
12 | Why is there an incentive for poorly performing NBA teams to lose on purpose? | The worst team in the league has a better chance of earning the first draft pick, which could completely change their future performance | 90 | SOW6 | X | |||||||||||||||||||||
13 | Describe the Pareto Principle in the context of basketball teams | The Pareto Principle would state that 80% of production comes from 20% of players, which would mean most of the output from teams comes from about 3 players. | 84 | SOW6 | X | |||||||||||||||||||||
14 | How do NBA general managers fall victim to the overchoice problem on draft day? | There are too many statistics available for each player that teams aren't able to make all the "right" calculations of which stats will make a bigger impact the next season. | 99 | SOW6 | X | |||||||||||||||||||||
15 | Why should a team regard a "busted" draft pick as a sunk cost? | The team already selected that player and can't go back and change their mind, so they should just move on. | 117 | SOW7 | X | |||||||||||||||||||||
16 | Whether it's about stealing bases or going for it on 4th down, what economic principle should decision makers apply? | They should focus on cost-benefit analysis and measure whether the gains outweight the costs | 115 | SOW7 | X | |||||||||||||||||||||
17 | According to the book, who is Frank Costanza? | George's father | 1 | SOW1 | ||||||||||||||||||||||
18 | Who said, "What the hell did you trade Jay Buhner for?! He had 30 home runs and over 100 RBIs last year. He's got a rocket for an arm. You don't know what the hell you're doin'!" | Frank Costanza | 1 | SOW1 | ||||||||||||||||||||||
19 | Who was told "What the hell did you trade Jay Buhner for?! He had 30 home runs and over 100 RBIs last year. He's got a rocket for an arm. You don't know what the hell you're doin'!" | George Steinbrenner | 1 | SOW1 | ||||||||||||||||||||||
20 | Fans often suggest that decision-makers in sports are less than what? | perfect | 2 | SOW1 | ||||||||||||||||||||||
21 | Traditional economics clearly teaches that decision-makers are supposed to be what? | rational | 2 | SOW1 | ||||||||||||||||||||||
22 | How did Veblen think that economist see people? | hedonistic lightning calculators | 2 | SOW1 | ||||||||||||||||||||||
23 | Thaler and Sunstein argued that economist believe people think like who? | Albert Einstein | 2 | SOW1 | ||||||||||||||||||||||
24 | Thaler and Sunstein argued that economist believe people store as much memory as what? | IMB's Big Blue | 2 | SOW1 | ||||||||||||||||||||||
25 | Thaler and Sunstein argued that economist believe people exercise willpower similar similar to whom? | Mahatama Handhi | 2 | SOW1 | ||||||||||||||||||||||
26 | Contrary to what sports fans often contend, it's not possible for coaches and managers to do what? | Make the same mistake over and over again | 2 | SOW1 | ||||||||||||||||||||||
27 | Who do behavioral economics believe is correct? | Fans | 2 | SOW1 | ||||||||||||||||||||||
28 | How are sports often described? | Removed from reality | 3 | SOW1 | ||||||||||||||||||||||
29 | Irrational is not synonymous with what word? | Stupid | 3 | SOW1 | ||||||||||||||||||||||
30 | More than anyone else, decision makers in sports should be what? | rational | 3 | SOW1 | ||||||||||||||||||||||
31 | Despite being relatively small, sports receive a lot of attention from _________. | media | 3 | SOW1 | ||||||||||||||||||||||
32 | No other industry has an entire __________________ devoted to it. | section of each local paper | 3 | SOW1 | ||||||||||||||||||||||
33 | Relative to other industries, success and failure seem to be what? | easy to understand | 4 | SOW1 | ||||||||||||||||||||||
34 | For workers in non-sports industries, measure worker productivity is ____________. | difficult | 4 | SOW1 | ||||||||||||||||||||||
35 | According to the University of Nebraska, how many college professors thought they were better teachers than average? | 0.940 | 4 | SOW1 | ||||||||||||||||||||||
36 | Who could be pretty confident that they were an above average hitter in 2008? | Chipper Jones | 4 | SOW1 | ||||||||||||||||||||||
37 | Who would be hard pressed to say that they were an above average hitting in 2008? | Jeff Francoeur | 4 | SOW1 | ||||||||||||||||||||||
38 | Understanding the past doesn't have much value if we can't do what? | predict the future | 5 | SOW1 | ||||||||||||||||||||||
39 | Neither author owns what? | slide rule | 5 | SOW1 | ||||||||||||||||||||||
40 | Seminal work by George Miller has shown that the human mind can only do what? | Track about 7 things at one time | 6 | SOW1 | ||||||||||||||||||||||
41 | Who has won the coin toss at the Super Bowl for 12 consecutive years? | National Football Conference (NFC) | 7 | SOW1 | ||||||||||||||||||||||
42 | The National Football Conference (NFC) has won the coin toss for how many consecutive years? | 12 (twelve) | 7 | SOW1 | ||||||||||||||||||||||
43 | The American Football Conference (AFC) better do some work if it wants to do that? | close the "coin toss predicting gap" | 7 | SOW1 | ||||||||||||||||||||||
44 | Flipping a coin is what? | A random process | 7 | SOW1 | ||||||||||||||||||||||
45 | Even if you flip a coin 12 times in a row, the process is still what? | random | 7 | SOW1 | ||||||||||||||||||||||
46 | In 1997, the Oakland A's were ranked in the bottom in which two categories? | team payroll and winning percentage | 8 | SOW1 | ||||||||||||||||||||||
47 | It's been argued that the key to the A's success was Billy Beane's ability to recognize inefficiencies where? | labor market | 8 | SOW1 | ||||||||||||||||||||||
48 | It's been argued that the key to the A's success was Billy Beane's ability to recognize what? | inefficiencies (in the labor market) | 8 | SOW1 | ||||||||||||||||||||||
49 | Which two economists researched whether baseball's labor market was "grossly inefficient" | John Hakes and Raymond Sauer | 8 | SOW1 | ||||||||||||||||||||||
50 | Hakes and Sauer investigated whether baseball's labor market was what? | "grossly inefficient" | 8 | SOW1 | ||||||||||||||||||||||
51 | Workers who are expected to be the most productive get what? | paid the most | 8 | SOW1 | ||||||||||||||||||||||
52 | In a world of "rich" and "poor" teams, the best players typically end up on teams that have what ability? | pay the most | 8 | SOW1 | ||||||||||||||||||||||
53 | Hakes and Sauer found what two states relate to winning? | on-base percentage and slugging percentage | 10 | SOW1 | ||||||||||||||||||||||
54 | How large was the impact of on-base percentage compared to slugging for team wins? | Twice | 10 | SOW1 | ||||||||||||||||||||||
55 | What role do regressions play in economics? | test tubes | 9 | SOW1 | ||||||||||||||||||||||
56 | Who spent more than $1.5 billion acquiring playing talent between 1999 and 2008? | New York Yankees | 13 | SOW2 | ||||||||||||||||||||||
57 | From 1999 to 2008, no team won more regular season games than which team? | New York Yankees | 13 | SOW2 | ||||||||||||||||||||||
58 | The New York Yankees spent more than $1.5 billion on acquiring playing talent between what years? | 1999 and 2008 | 13 | SOW2 | ||||||||||||||||||||||
59 | From 2000 to 2008, the Washington Redskins spent the most in the NFL yet failed to win how many games? | Half | 13 | SOW2 | ||||||||||||||||||||||
60 | Which team paid its players more than anyone else from 2000-01 to 2007-08, but had 19 teams achieve better results? | New York Rangers | 13 | SOW2 | ||||||||||||||||||||||
61 | In all sports, what percentage of variation in winning percentage is not explained by a team's spending? | 75% | 13-14 | SOW2 | ||||||||||||||||||||||
62 | In which two sports is a team's spending explained by less than 10% of the variation in wins? | Basketball and football | 14 | SOW2 | ||||||||||||||||||||||
63 | In basketball and football, how much of the variation in wins is explained by team spending? | Less than 10 (ten) percent | 14 | SOW2 | ||||||||||||||||||||||
64 | It takes more than money to find what? | success in sports | 14 | SOW2 | ||||||||||||||||||||||
65 | The consistent "averageness" of the Knicks led the team to hire whom? When? | Isiah Lord Thomas III; December 2003 | 14 | SOW2 | ||||||||||||||||||||||
66 | Who wrote, "If you love the Knicks and don't like this move, you must be delirious." | William Rhoden | 14 | SOW2 | ||||||||||||||||||||||
67 | After Isaiah's playing days, which three jobs did he have? | Front office executive, broadcaster, and head coach | 15 | SOW2 | ||||||||||||||||||||||
68 | Within days of taking the job, Isaiah acquired which player? | Stephon "Starbury" Marbury | 15 | SOW2 | ||||||||||||||||||||||
69 | What three factors can NBA numbers be separated into? | scoring factors, possession factors, and help factors | 16 | SOW2 | ||||||||||||||||||||||
70 | Possession factors include which statistics? | rebounds, steals, and turnovers | 16 | SOW2 | ||||||||||||||||||||||
71 | Help factors include what statistics? | assists, blocked shots, and personal fouls | 16 | SOW2 | ||||||||||||||||||||||
72 | Despite being inefficient scorers, both Marbury and Thomas tended to do what first? | call his own numbers | 17 | SOW2 | ||||||||||||||||||||||
73 | How did Marbury compare (on average) with respect to assists and personal fouls? | above average | 17 | SOW2 | ||||||||||||||||||||||
74 | What metrics argues that wins are driven by shooting efficiency, rebounds, turnovers, and steals? | Wins Produced | 18 | SOW2 | ||||||||||||||||||||||
75 | The metric Wins Produced argues that wins are driven by what 4 contributions? | shooting efficiency, rebounds, turnovers, and steals | 18 | SOW2 | ||||||||||||||||||||||
76 | An average player in the NBA produces how many wins per 48 minutes? | 0.1 | 18 | SOW2 | ||||||||||||||||||||||
77 | Marbury's WP48 with the Phoenix Suns in 2003-2004 was what? | 0.136 | 18 | SOW2 | ||||||||||||||||||||||
78 | How many players from the December 2003 Knicks were still on the team in 2005-2006? | 0 (zero) | 19 | SOW2 | ||||||||||||||||||||||
79 | What two things do Crawford, Curry, Richardson, Frye, and Randolph all have in common? | Above average scorers, each has flaws that undermine overall effectiveness | 19 | SOW2 | ||||||||||||||||||||||
80 | Although Eddy Curry was 6'11", where was he consistently below average? | on the boards | 19 | SOW2 | ||||||||||||||||||||||
81 | Which two teams were less successful than the Knicks during Isaiah's years in New York? | Atlanta Hawks and Charlotte Bobcats | 20 | SOW2 | ||||||||||||||||||||||
82 | Which factors were found to have a statistically significant and negative effect on salaries for NBA free agents? | Personal fouls, Age, and playing Shooting Guard | 21 | SOW2 | ||||||||||||||||||||||
83 | With respect to performance on the court, which two factors do not impact a player's pay? | steals and turnovers | 21 | SOW2 | ||||||||||||||||||||||
84 | What is the dominant factor that determines how much a player is paid? | Number of points a player scores | 21 | SOW2 | ||||||||||||||||||||||
85 | If a free agent increased his scoring by roughly 5 points per 48 minutes played, how much would his salary increase? | $1.4 million | 22 | SOW2 | ||||||||||||||||||||||
86 | Players have a clear incentive to do what as much as possible? | Take shots | 22 | SOW2 | ||||||||||||||||||||||
87 | For free agents, more shots will lead to more points, and more points leads to what? | More money | 22 | SOW2 | ||||||||||||||||||||||
88 | Who said, "One plus one is two, all day long, and it's never gonna change. And that's factorial." | Marbury | 23 | SOW2 | ||||||||||||||||||||||
89 | What type of player is paid the league maximum under the collective bargaining agreement? | "Max Player" | 23 | SOW2 | ||||||||||||||||||||||
90 | Teams will struggle to win when if every player only focuses on what? | Their own scoring | 23 | SOW2 | ||||||||||||||||||||||
91 | Auerbach and the Celtics are considered the first organization to popularize what concept? | Role player | 24 | SOW2 | ||||||||||||||||||||||
92 | What was Adam Morrison's only apparent skill? | Taking shots | 26 | SOW2 | ||||||||||||||||||||||
93 | How many wins did Adam Morrison produce in 2006-07? | -6.7 | 26 | SOW2 | ||||||||||||||||||||||
94 | How did the wins Adam Morrison's produce rank in 2006-07? Out of how many? | 458th out of 458 (last) | 26 | SOW2 | ||||||||||||||||||||||
95 | What was Adam Morrison voted to? | NBA's All-Rookie Second team | 26 | SOW2 | ||||||||||||||||||||||
96 | How many additional votes did Adam Morrison need to be a first team selection? | One | 26 | SOW2 | ||||||||||||||||||||||
97 | What signal do NBA head coaches send young players? | focus on scoring | 27 | SOW2 | ||||||||||||||||||||||
98 | Which factors were found to have a statistically negative effect on voting for All-Rookie teams in the NBA? | Personal fouls and place taken in draft | 27 | SOW2 | ||||||||||||||||||||||
99 | For rookies, more shots lead to more points, and more points lead to more what? | money and recognition | 28 | SOW2 | ||||||||||||||||||||||
100 | How much did Stephon Marbury actually earn in his first season in New York? | $13,500,000 | 29 | SOW2 |