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.