Is there data on the quality of management decisions?
> A statement I commonly hear in tech-utopian circles is that some seeming inefficiency can’t actually be inefficient because the market is efficient and inefficiencies will quickly be eliminated.<p>At the risk of sounding like an old fogey,  I believe a similar statement can be made for stats-utopian circles and their belief in ability to quantify every thing.<p>As the post says:<p>> One nice thing about sports is that they often have detailed play-by-play data and well-defined win criteria which lets us tell, on average, what the expected value of a decision is.<p>So, using sports as a proxy is not the same as management decisions where there are no well-defined criteria or expected value.