Podcast Episode 21 - Cade Massey

Cade Massey, Professor of the Practice at the Wharton School of Business, joins the show to discuss his research on the NFL draft. Professor Massey is the co-author of "The Loser's Curse: Decision Making & Market Efficiency in the National Football League Draft", a paper analyzing the market for draft pick trades. He and his co-author, Richard Thaler, discovered that teams picking at the top of the draft actually sacrifice a great deal of what he calls "surplus value" by not trading down for additional selections.

Dave and Cade look at the reasons why teams employ less than optimal strategies, including risk aversion, adherence to norms established by "The Chart" and other psychological factors. Professor Massey defends his paper against critiques, and discusses why he believes the draft is such a compelling spectator event.

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1 Responses to “Podcast Episode 21 - Cade Massey”

  1. Anonymous says:

    I have absolutely nothing intelligent to say, but I would like to express my gratitued for your work. I really love listening to these podcasts and haven't missed one yet. Thanks again for your hard work.

    Cheers,
    J

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