Just what the doctor ordered - a recipe for success
Dr. Walter Williams, the George Mason University distinguished econ. prof., explains how the basketball team's [insert my sheepish grin] unexpected entry into the Final Four evolved.
He writes, "Coach Jim Larranaga and his staff used what my colleagues, Professors Peter Boettke and Alexander Tabarrok, in their Slate.com article 'The Secret of George Mason,' called the Moneyball model of recruitment. Larranaga knows that he can't compete for freshmen players with the likes of UCLA, Duke, Wake Forest and other top-ranked teams. Boettke and Tabarrok say he overcame that obstacle by hunting 'for the undervalued players -- the ones who everyone else thought were too short, too thin, or too fat -- and then building them into a team. In its astonishing defeat of UConn, GMU's players were giving away 4 inches at nearly every position.' "
That is pretty astonishing, and Coach L. is a superb gambler and motivator. Equally as astonishing is hearing that the GMU economics dept. went private.
Here's the Slatearticle that the doc mentioned, and the sentence that's almost worth memorizing: "Herd behavior means that unpopular opportunities remain unexploited."