Saturday, June 20, 2009
Loss aversion in golf
Hat tip: King
Using data the tour regularly records on every ball’s green location accurate to the nearest inch, the professors found that birdie putts were made about 3 percent less often than otherwise identical putts for par. (In effect, players tell themselves before birdie attempts, “Let’s just get close,” rather than, “I have to make this.”)


I have not RTFA yet, but there are several reasons why this may be the case other than a different “approach” by the golfer. One reason is that par putts are more often made after a chip from off the green whereas birdie putts are more often made from an “approach” shot (usually 100 or more yards away). When a PGA golfer is chipping from just off the green he is going to put the ball in an area on the green relative to the hole which is easiest to make (for example a flat or uphill putt). So a 6 foot putt, for example, is going to be an easier putt on the average when you just chipped the ball as compared to when you just hit a 130 yard approach shot.