Economics assumes that behavior is based on rational expectations and market efficiency. However, previous research into professional sports indicates that there are cases where decisions are consistently made that do not conform to this. This article examines this issue within the context of...

The best selling book Moneyball posited a theory on the success of a Major League Baseball franchise that used detailed match data to identify inefficiencies in the market for professional baseball players. These statistics were then exploited to the advantage of that team. An important part of...