Home Economy Sunk Prices and the Tuck Rule

Sunk Prices and the Tuck Rule

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Play the hand you’re dealt.

This morning I rewatched a enjoyable ESPN “30 for 30” present concerning the tuck rule and the function it performed within the New England Patriots’ (aka “The New England Economists” in response to my College of Western Ontario mentor, economist John Palmer) 2002 playoff victory over the Oakland Raiders.

Within the present Tom Brady and Charles Woodson sit on Brady’s sofa and watch the important thing play with 1:40 left within the 4th quarter. Oakland is forward 13-10 and if Brady’s lack of the ball  as a consequence of Woodson’s deal with is a fumble, Oakland wins. However the refs take a look at a replay and resolve that the tuck rule applies. The Patriots go on to win and make all of it the way in which to Brady’s first Tremendous Bowl win.

I may let you know all concerning the enjoyable interplay between Brady and Woodson the place at occasions they act like 14-year-old boys.

However I wish to make a degree about sunk prices.

Lots of the Oakland protection gamers felt, understandably, cheated by a foul name. It wasn’t a foul name; it was good name to implement a screwy rule. One participant admits that as a result of they felt cheated, they misplaced their depth. A New England Patriot participant who’s interviewed, Tedy Bruschi, I imagine, makes the purpose that Patriots coach Invoice Belichick was all the time good at getting the gamers to simply accept the hand they have been dealt, put it manner, and play from there. Belichick, in brief, acknowledged that sunk prices are sunk.

Additional credit score: What topic did Belichick main in when he attended Wesleyan Faculty?

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