June 13, 2012
Moneyball author, Michael Lewis, at a Princeton commencement in 2012 had this to say about over-attributing success to our own actions after the fact, and overlooking luck:
But the Oakland team had figured something out: the rich teams didn’t really understand who the best baseball players were. The players were misvalued. And the biggest single reason they were misvalued was that the experts did not pay sufficient attention to the role of luck in baseball success. Players got given credit for things they did that depended on the performance of others: pitchers got paid for winning games, hitters got paid for knocking in runners on base. Players got blamed and credited for events beyond their control. Where balls that got hit happened to land on the field, for example.

tags: BusinessWorld