The Dilemma of Choosing Talent: Michael Jordans are Hard to Find
AbstractThis paper explores the dilemma of choosing talent using NBA data from 1987-2003. We find that there is much uncertainty in selecting talent. If superstars are found they are usually identified early, however, more false positive exist than correct decisions with high draft picks. Our results suggest that the dilemma of choosing talent is not so much a winner’s curse but more like a purchase of a lottery ticket. Most times you lose but if you are going to win you must buy one.
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Bibliographic InfoPaper provided by Department of Economics, Appalachian State University in its series Working Papers with number 07-01.
Date of creation: 2007
Date of revision:
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Other versions of this item:
- Peter Groothuis & James Richard Hill & Timothy Perri, 2009. "The dilemma of choosing talent: Michael Jordans are hard to find," Applied Economics, Taylor & Francis Journals, vol. 41(25), pages 3193-3198.
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