How Did Economists Get It Wrong

Whenever he observes a football match, the economist diligently records all the plays made and all the surrounding conditions that are likely to be relevant. Every night, he performs complex statistics to find hidden patterns in the data. In the end, his efforts were well compensated. He discovered that the "captain" often threw the ball toward the catcher, that the catcher often ran toward the opposing team's goalposts, and that last-minute field goals were often scored by the opposing tea...