Decision-making on the hot seat and the short list: Evidence from college football fourth down decisions
Mark Owens and
Michael A. Roach
Journal of Economic Behavior & Organization, 2018, vol. 148, issue C, 301-314
This study examines how career considerations influence risky decisions in the labor market for college football head coaches. We use historical data to predict, based on information available prior to the beginning of a given season, whether a coach will be fired or promoted after that season. Indices created from these models are used, along with other relevant data, to analyze the risky decision to attempt a fourth down conversion. We find that decision-making is sensitive to perceived job stability. Coaches who are more likely to be fired become more conservative, attempting fewer fourth down conversions. Conversely, coaches who are more likely to be promoted undertake more risk by attempting to convert more fourth downs. The result is that coaches with less job security are more likely to make decisions that are sub-optimal from the perspective of win-maximization.
Keywords: Loss aversion; Football; Firing; Promotion; Herding; Fourth down (search for similar items in EconPapers)
JEL-codes: D81 D91 Z20 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:148:y:2018:i:c:p:301-314
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