Wednesday, July 26, 2006
The Hot Hand
We all know about The Hot Hand. But, would you bet on it?
http://people.ucsc.edu/~rgil/world_cup.pdf
Because these games are televised, all traders have virtually simultaneous access to new information in the form of goals, and it is also observable to the econometrician.
See commentary by Phil Birnbaum
I just read Phil’s comments on the study, and not the study itself. It appears to be an awfully roundabout (and innacurate, blunt, etc.) method of determining that there is no “hot hand” in soccer.
Also, the study that Phil mentions (that he did) about pitchers who get shelled early in the game seems to be at odds with the research that Tango did in our book, which shows very large predictive value for early game poor pitching for a certain subset of pitchers and small predictive value for all pitchers as a whole (IIRC).