Penalty Kicks and Decision Making
During 2020 many of us may have felt like a goalie during penalty kicks as we were faced with rapid-fire decisions while the world changed in unexpected ways.
Watching the World Cup provides an opportunity to think about the consequences of different types of decision-making.
Unlike penalty kicks, many decisions are reversible and we can over time try different paths and make new decisions.
Simultaneous move games (or decisions) are intrinsically difficult and even professionals who train specifically for one type of challenge can’t always make the best choice.
I’m grateful to not have to make decisions with thousands of people screaming for me to fail.
If you want a fun book that talks about penalty kicks, whether you should help your kid become a pro athlete, and if athletes are worth all the money, read Paul Oyer’s An Economist Goes to the Game.