Do Bookies Undervalue Team Performance Metrics?

In 2003 Michael Lewis' Moneyball was published, in which he related the story of Billy Beane, Oakland A's General Manager, and his discovery that the market for baseball players mispriced particular skills. Some skills that could be shown, statistically, as being associated with greater team success weren't recognised as valuable (for example, getting on base, as measured by On-Base Percentage), while other skills were over-valued because of an historical belief that they were related to success (for example, batting in runs, as measured by RBI).
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