Yes. The context is female jockeys in horse racing, and so we turn to Alasdair Brown and Fuyu Yang in the Journal of Economic Behavior and Organization:
Male and female jockeys compete side-by-side in horse racing.
Betting market prices provide a window onto society’s beliefs about female ability.
Women are slightly underestimated, winning 0.3% more races than the market predicts.
Underestimation is greater in jump racing, where female participation is low.
Question What are the neuropathological and clinical features of a case series of deceased players of American football neuropathologically diagnosed as having chronic traumatic encephalopathy (CTE)?
Findings In a convenience sample of 202 deceased players of American football from a brain donation program, CTE was neuropathologically diagnosed in 177 players across all levels of play (87%), including 110 of 111 former National Football League players (99%).
Mr. Ferretti, 36 years old, and Mr. Lopez, 44, had enjoyed themselves under the supervision of a doctor for what some are calling a brosectomy—a vasectomy with friends in a cushy setting of couches, snacks, big-screen TV, and in some clinics, top-shelf liquor.
Here is the WSJ story. And:
The University of Utah Health in Salt Lake City has run March Madness promotions for the past three years. It offers a vasectomy package that includes a Utah Jazz basketball ticket giveaway, goody bags and basketball-shaped ice packs. This year, its surgeons performed more than three times as many vasectomies in March compared with the average number done in the other months through May, according to the health center’s internal marketing data.
They promised us flying cars, and all we got was…
I can pass along that there’s another angle to the grunts (having played a lot of tennis). The sound of the ball hitting the racket provides useful information, particularly for a mishit or a powerful shot — because you have to move up or back quickly to cope. For years, top tennis players have used grunts and shrieks to conceal this sound from their opponents (e.g. I always thought Sharapova, and Seles years ago, were prime offenders). There’s no need for such noises as a function of effort, or events like NBA games would sound much different. But the tennis authorities haven’t done anything about it.
In table tennis, where I have a very long involvement, the spin on the ball is tremendous in high-level play — so much so that a concealed dead ball (with no spin) is a very effective tactic because the opponent will err by responding to the spin that isn’t there. Years back, a totally dead racket covering was developed for this purpose; even worse, it tends to continue the spin so that the originator effectively gets the reverse back of what he put on the ball. A top US player with whom I grew up developed a style where he used only one side of the racket for both forehand and backhand, while frequently flipping between the spinny and dead sides of his racket that were colored the same. Players could hear the difference, however, as the dead side made a little thud when struck. His innovation was to stomp his foot on the floor each time he struck the ball (going beyond the norm of the time of just stomping on the serve). A subsequent regulatory change required rackets to have one red and one black side, to facilitate keeping track of which rubber covering is being used for a given shot.
The league and union introduced the super-max to give incumbent teams more of an edge in retaining superstars. If the Bulls indeed felt queasy about the possibility of spending it on Butler, he becomes the second player — alongside DeMarcus Cousins — dealt at least in part because the incumbent team didn’t really want that advantage. Paul George may mark case No. 3, though Kevin Pritchard, Indiana’s GM, sounded heartbroken Thursday about the inevitability of George playing elsewhere. The super-max may be having almost the opposite of its intended effect.
The Bulls were rather publicly uncomfortable with the idea of Butler as foundational player.
Here is the full article, by Zack Lowe, one of the best writers around. Quick, what is the dual wage hypothesis for CEO pay? For academic hiring?
Ben was wildly charming and charismatic before the crowd. My questions tried to get at how he thinks rather than the hot button issues of the day. Here is the transcript, audio, and video. We covered Kansas vs. Nebraska, famous Nebraskans, Chaucer and Luther, unicameral legislatures, the decline of small towns, Ben’s prize-winning Yale Ph.d thesis on the origins of conservatism, what he learned as a university president, Stephen Curry, Chevy Chase, Margaret Chase Smith, and much more.
Here is one bit from Ben:
Neverland and Peter Pan is a dystopian hell. Neverland is not a good place. You don’t want to get to the place where you’re physically an adult and you have no moral sense, you have no awareness of history, you have no interest in the future. Peter Pan is killing people, and he doesn’t really care; he doesn’t remember their names. It’s a really dystopian thing. Perpetual adolescence is the bad thing.
Adolescence is special. We need to figure out how to use adolescence; it’s a means to an end. So that’s what the book’s about.
I am an Augustinian in my anthropology, but Rousseau is a romantic. I think he’s wrong about lots and lots and lots of things, but I think he’s really, really smart. You have to engage him, and you have to engage people who have ideas that are different than yours because you may ultimately be converted to their view, and you need to encounter things that are big and challenging and threatening to your worldview. Or you may sometimes come to believe you’re right and be able to respond to the counterarguments, while your argument will be better. You’ll grow through it, and you’ll become more persuasive to others through it.
So I think Rousseau’s fundamental anthropological understanding of why we feel that things are broken in our soul is, he’s got a reason to blame society for everything we feel is wrong in the world, and I think there’s a lot of brokenness deep inside all of us, and so, that’s the Augustinian versus Rousseauvian sense of what’s wrong.
But I think the Emile is brilliant, both because it forces me to wrestle with ideas that I don’t agree with, or mostly don’t agree with, but I think it’s also just an incredibly good read.
Then there was this:
COWEN: …Might one argue that the more one thinks and writes about sex, the more you’re led to Rousseauian conclusions that a certain kind of constraint will prove impossible, and then one is pulled away further from Ben Sasse–like conclusions.
SASSE: That’s a really fair question. I wanted to stay away from sex 100 percent, and then ultimately I couldn’t do it.
COWEN: There’s three pages in your book about sex.
COWEN: And page 33 mentions it once.
You’ll have to read the whole thing to see where Ben took that line of inquiry, his answer was excellent.
As organized, multiplayer video game competitions — also known as esports, or electronic sports — continue to gain recognition in China, entertainment giant Tencent Holdings Ltd. has accelerated its esports expansion with the unveiling of a new five-year plan.
The plan, which involves setting up esports leagues, tournaments and associations, nurturing players and constructing esports-themed industrial parks, was published by Tencent E-Sports, a subsidiary established in early December.
Tencent is the world’s largest mobile gaming company by revenue, according to research firm Newzoo. With the new plan, it aims to create a 100-billion-yuan esports industry in China within five years, the company announced on Friday at a press conference.
The plan was based on Tencent’s expectations that China is set to become the world’s largest esports market. Tencent predicted there will be 220 million esports players in China and 335 million globally by the end of this year.
Here is the story. And:
The number of Chinese “red tourists” who visit Russia to retrace a shared communist history has been soaring in recent years, contributing to the wave of Chinese visitors to Russia that has grown with the help of closer bilateral relations between the countries, according to industry insiders on Tuesday.
“There definitely is growing interest among Chinese tourists for Russia, especially the older generations, who are nostalgic about the history of Russia,” Zeng Qingan, general manager of Beijing Global Travel Ltd, told the Global Times.
Zeng said that since his company started tour groups to Russia nine years ago, the number of participants has increased fast, especially after the company redesigned its tour routes in 2014 to cover historical Soviet Union era sites, including the Red Square and Victory Square in Moscow, the Lenin Memorial Museum in Ulyanovsk and Moscow State University. The travel firm called it the “Red Tourism” package.
Link here. The revolution not only will be televised, but they will make an e-sports version of it, marketed on WeChat.
Via Marc Canal Noguer:
Taking My Talents to South Beach (and Back)
Shoag, Daniel, and Stan Veuger. “Taking My Talents to South Beach (and Back).” HKS Faculty Research Working Paper Series RWP17-019, May 2017.
We study the local economic spillovers generated by LeBron James’ presence on a team in the National Basketball Association. Mr. James, the first overall pick of the 2003 NBA draft, spent the first seven seasons of his career at the Cleveland Cavaliers, and then moved to the Miami Heat in 2010, only to return to Cleveland in 2014. Long considered one of the NBA’s superstars, he has received the league’s MVP award four times, won three NBA championships, and been a part of two victorious US teams at the Olympics. We trace the impact a star of Mr. James’ caliber can have on economic activity by analyzing the impact his departures and arrivals had on business activity close to the Cleveland Cavaliers and Miami Heat stadiums. We find that Mr. James has a statistically and economically significant positive effect on both the number of restaurants and other eating and drinking establishments near the stadium where he is based, and on aggregate employment at those establishments. Specifically, his presence increases the number of such establishments within one mile of the stadium by about 13%, and employment by about 23.5%. These effects are very local, in that they decay rapidly as one moves farther from the stadium.
Here’s an excellent story about Chris Carr who played in the NFL for 10 years and is now about to graduate from law school. That’s unusual but not so unusual, the late U.S. Supreme Court Justice Byron R. White also played in the NFL. What makes this story special is that Carr will specialize in immigration law. Why?
Carr grew interested in immigration law a few years ago, after reading Thomas Sowell’s “Ethnic America.” (“A really cool book,” he said.) That made him reflect on the country and “just how unique the American experiment was.” He read blog posts by Bryan Caplan, an economist at George Mason University, and the writing of Michael Huemer, a philosophy professor at the University of Colorado.
Hat tip: Fabio Rojas.
That is the topic of my latest Bloomberg column, here is one bit:
The decline of TV revenue is not the same as a decline of interest in the sport. NBA basketball is alive and well; it’s just that more people are cutting the cord on cable. They still might follow the NBA through its website, or watch highlights on YouTube, or share gifs on Twitter.
That shift is likely to favor the stars and the most athletic players, because they are more likely to be featured in very short clips. As for the incentives, player salary will matter less, and the desire to become famous on the internet — and thus win lucrative endorsement contracts — will discourage team play. Expect more attempts to produce spectacular sequences, even if that doesn’t always translate into wins. “Boring” but fundamentally sound teams — which are better to watch for a 2.5 hour game — will be disfavored by this trend. Sorry, San Antonio!
Here is another:
Another possibility is that the NBA will consolidate with fantasy basketball and video gaming to augment their revenue. The NBA already has plans to introduce an e-sports product. More speculatively, if more states legalize sports gambling, the league could enter into a revenue-sharing agreement with casinos or bookmakers. Imagine redesigning the playoffs to maximize the number of decisive games and thus boost betting interest — that could mean more but shorter playoff series. At least the fantasy component of such a basketball conglomerate might redistribute some of the attention back to players who are not superstars. Gamblers also tend to be well-informed about the teams they bet on, so this direction could encourage a smarter NBA, better designed for the nerds and fanboys.
Do read the whole thing.
Loving winning and hating losing are two fairly distinct motivations. For instance, a fairly joyless person may nonetheless be motivated by the humiliation of a loss, or a non-envious, non-spiteful type could receive great pleasure from being number one, while not minding if someone later climbs higher yet.
If you both love winning and hate losing that is especially useful in one-on-one, zero-sum competitions, such as chess and tennis, and also in most team sports and perhaps securities trading as well. Such people are more motivated, and motivated from more sides of their being, and if one of the emotions flags a bit the other is there to step in and maintain the pace and focus.
In venture capital, I suspect that hatred of losing may be a disadvantage. No matter how successful you may be, most of your individual investments will lose money and hatred of losing may make you too risk-averse. It might be better to have the ability to simply forget your losses and put them behind you.
For academics, it is more important to love gains than to hate losses. Provided they don’t embarrass you, your forgotten articles just aren’t that big a deal and everybody has them, including Nobel Laureates. A single key piece can make your career, however.
Is hatred of loss also unnecessary for book authors and music stars? Ideally, you would think they should take lots of chances, but the exact tracking of sales makes them more risk-averse and thus boosts the relative status of the loss haters. If they release a clinker book or album, the intermediaries are less keen to promote them next time around. To the extent intermediaries become more important, that boosts the loss-hating performers, because intermediaries themselves are somewhat loss-hating.
What is the correct mix of gain-loving and loss-hating for a Navy Seal? For a journalist? A lawyer, programmer, or engineer?
In a job interview, what question should you ask to discern if someone is a gain lover or a loss hater or both? Or neither!
German police arrested a man on Friday suspected of detonating three bombs that targeted the Borussia Dortmund soccer team bus in the hope of sending the club’s shares plummeting and making a profit on an investment, prosecutors said.
In a statement, the federal chief prosecutor said the 28-year old man, a dual German and Russian national identified as Sergei V., had bought options on Borussia Dortmund’s stock before the attack.
The team bus was heading to the club’s stadium for a Champions League match against AS Monaco on April 11 when the explosions went off, wounding Spanish defender Marc Bartra and delaying the match by a day.
Prosecutors last week expressed doubts about the authenticity of three letters left at the site of the attack that suggested that Islamist militants had carried it out.
The prosecutor’s office said the suspect had bought 15,000 put options, or contracts giving him the right to sell Borussia Dortmund’s shares at a pre-determined price, on the day of the attack, using a consumer loan he had signed a week earlier.
Here is the full story at Reuters.
State- and local-income tax rates differ across locations, giving low-tax teams a competitive advantage when bidding for players. I investigate the effect of income tax rates on professional team performance between 1977 and 2014 using data from professional baseball, basketball, football, and hockey in the United States. Regressing income tax rates on winning percentage, I find little evidence of income tax effects prior to 1994, but since then a ten percent increase in income taxes is associated with a three percent decline in winning percentage. A robustness check using within state variation in income taxes affirms this result. The income tax rate effect varies by league, with the largest effect in professional basketball, where teams in states without income tax win 4.5 more games each year relative to high-tax states. The income tax effect is smallest in major league baseball, which could be explained by greater team payroll disparity. Placebo tests using college team performance find no evidence of an income tax effect.
The pointer is from the excellent Kevin Lewis.
Christina, an apparent MR reader, asked me whether it is really true that AI helps military defense more than military offense, as was previously argued by Eric Schmidt. I can think of a few parallel cases:
1. In chess, AI clearly has helped the defense. Top computer programs never play 32-move brilliant sacrifice victories against each other, a’ la Mikhail Tal. Most games are drawn, and a victory tends to be long and protracted. (Do note it is sometimes better to get the war over with and lose right away.)
2. In the NBA, analytics have helped offense more, for instance by showing that more attempted shots should be three-pointers. Analytics of course is not AI, but you can consider it a more primitive form of using information technology to improve decisions.
3. It is interesting to ponder the differences between chess and the NBA as potential analogies. In chess, the attack often “plays itself,” as the player with the initiative may be following fairly standard strategies of bringing the Queen and some lesser pieces in the neighborhood of the opposing King, or maybe just capturing material. Finding the correct defense is often a more complex matter, and the higher quality of the chess-playing programs thus boosts defense more than offense. Besides, under perfect information chess is almost certainly a draw, and the use of AI asymptotically approaches that outcome.
In professional basketball, the offense typically has more options and permutations, and given any offensive decisions, the defense often respond in fairly typical fashion, such as lunging at the player attempting a shot, or doubling Stephen Curry as he crosses the half-court line. In those cases where the defense has more options, however, analytics conceivably could help basketball defense more than offense. A (hypothetical) example of this would be using game tape and AI to see which kinds of tugs on the jersey best disrupt the shot or rhythm of the team’s leading scorer. That said, most of the action seems to be in honing the options for the offense.
4. Is warfare more like chess or more like the NBA?
I believe the USA has more options in most of its conflicts, and thus AI will help the United States, at least at first.
In the Second World War the Nazis had more options than their opponents. In the Civil War and American Revolution, however, the available offense was more static and predictable, and AI for those fighting forces might have helped the defense more. In the Iran-Iraq war I suspect the defense had more options too. Terror groups have more meaningful options than the forces defending against terror, and thus AI might help terror groups more than the defense, at least provided they had equal access to the data and to the technology (which is doubtful at this point, still as part of the exercise this is useful).
5. One important qualifier is that the chess and NBA examples already assume a game is on to be played. A war, in contrast, is started as a matter of volition on at least one side. If AI creates a new arms race of sorts, where one side at times opens up a decisive lead, that may provoke more decisions to engage and thus attack. The mere fact that AI increases the variance in the power gap between the two sides may increase the number of attacks and thus wars.
So there is more to this question than meets the eye at first, and I have only begun to engage with it.
Addendum: AI is also spreading in the legal world, will this help defendants or plaintiffs more?
[Andre] Agassi pauses when asked if he and his wife [Steffi Graf] sometimes hit a few balls in Vegas – for old time’s sake? “No. It sounds a nice idea. But as soon as you hit the first couple of balls you remember you can do this. But you’re also reminded of what you can’t do. I just thank God I played the game long enough to enjoy lots of good moments. It gave a lot and it took a lot. I think me and tennis are about even now.”
Here is the full interview, interesting throughout.