The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes Michael A
Brooklyn Law Review Volume 71 | Issue 4 Article 1 2006 It's Not About the Money: The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes Michael A. McCann Follow this and additional works at: https://brooklynworks.brooklaw.edu/blr Recommended Citation Michael A. McCann, It's Not About the Money: The Role of Preferences, Cognitive Biases, and Heuristics Among Professional Athletes, 71 Brook. L. Rev. (2006). Available at: https://brooklynworks.brooklaw.edu/blr/vol71/iss4/1 This Article is brought to you for free and open access by the Law Journals at BrooklynWorks. It has been accepted for inclusion in Brooklyn Law Review by an authorized editor of BrooklynWorks. ARTICLES It’s Not About the Money: THE ROLE OF PREFERENCES, COGNITIVE BIASES, AND HEURISTICS AMONG PROFESSIONAL ATHLETES Michael A. McCann† I. INTRODUCTION Professional athletes are often regarded as selfish, greedy, and out-of-touch with regular people. They hire agents who are vilified for negotiating employment contracts that occasionally yield compensation in excess of national gross domestic products.1 Professional athletes are thus commonly assumed to most value economic remuneration, rather than the “love of the game” or some other intangible, romanticized inclination. Lending credibility to this intuition is the rational actor model; a law and economic precept which presupposes that when individuals are presented with a set of choices, they rationally weigh costs and benefits, and select the course of † Assistant Professor of Law, Mississippi College School of Law; LL.M., Harvard Law School; J.D., University of Virginia School of Law; B.A., Georgetown University. Prior to becoming a law professor, the author was a Visiting Scholar/Researcher at Harvard Law School and a member of the legal team for former Ohio State football player Maurice Clarett in his lawsuit against the National Football League and its age limit (Clarett v.
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