CASE APPLICATION #2 Galloping to the Right Decision T Torseracing has rich traditions dating back to the first decision makers. Fach decision can be the difference between races in 4500 BC and the early civilizations of Central winning and losing. Not just a sport for pleasure, owners with L L Asia, the Mediterranean and Europe. Once consid- small and large pocketbooks seek returns on their investment Jered the "Sport of Kings", today's horse racing has evolved in And a jockey's livelihood for the month can be decided in a o multi-billion dollar entertainment industry. Owners, jockeys. matter of seconds. trainers, and horses travel the globe in search for a win. Crossing An Owner must assess whether to invest in the potential the finish line in one of the top three places can produce signifi. of young colt or buy an experienced mare. Pedigree, age, and can earnings from the modest past performance are just a lew racing circuits in small cities factors alongside sentiment. to the extravagant payouts of Managing HORSE RACING... the most prestigious venues. In Numbers or Emotion, Which to seek a thoroughbred from the Hong Kong circuit alone, Works Better? England's hallowed breeding wirning owners can earn up to grounds in Newmarket or to 60% of prize money ranging lean toward the bloodline of From $100,000 to over $3 million per weekly race ser a seuson an Ambian, Evaluating the retum on investment must be weighed winning jockey and trainer can easily earn 10% cach from an against the of ownership including training und boarding fees. owner's winnings Decisions do not just rest in ownership. A jockey makes Fans from all walks of life shure in the enthusiasm as they split sccond decisions during a race while galloping at speeds fill massive grand stands and hotel rooms. Hong Kong's world exceeding 35mph. Not knowing a horse's tendencies or using class Happy Valley Racecourse can draw up to 55,000 spectators the wrong race strategy could lead to life threatening injury to on any given night. The Dubai Cup with the largest purse in all horse or rider. A well prepared jockey studies course dimen of horseracing at a $10,000,000 attracts not only the top horses sions and the patterns of competitors. Horse preparation relies in the world but entices tourists to visit the United Arab Emirates United Arab Emirates on the daily decision of trainer who must decide optimal diets eager to experience the spectacular Meydon Hotel overlook and appropriate equipment such as proper fitting horseshoes. ing the Dubai racecourse. And the Kentucky Derby continues This extends to exercise routines monitored by data collected to draw record-breaking crowds lo che U.S. city of Louisville via smartphone apps and tracking of graphical data where ticket prices for this specMele can range from $43 for gen The rationality of science continues to permeate the sport. Setul admission tickets to $11,000 for an upper clubhouse scat Race teams sock competitive advantage via genetic testing and As the big business of horse racing continues to grow, risk aerobic measurements. Yet, at the end of the day, many deci. and uncertainty in this high stakes affair looms heavy for its sions are still made by one's love and feel for the horse. 138 Part 2 . Planning Discussion Questions 4.18 What are sume examples citational and intuitive decision mak ing that you may see in horse racing 4-19 Ajockey fure Melbourne, Australia is swayed by a friend to race at the last mince Happy Valley Hong Kong without a track preview. How would bude rationality alfect the jockey who normally races in Australie? 4-20 What decision-making approaches could an own use to help decide what type of horse to buy? 4-21 Suppose some trailers meet at a conference and view a p. 3 sentacion about en organic new fece that naturally improves muscle development in race horses. A trainer who did n01 21- tend the presentation hears eachtrainer wholnil the presenta tion signed up for a month's supply. Then the trainer decides to follow suit without gathering any evidence. What type of de Sion bas would you consider this to be? CASE APPLICATION #2 Galloping to the Right Decision T Torseracing has rich traditions dating back to the first decision makers. Fach decision can be the difference between races in 4500 BC and the early civilizations of Central winning and losing. Not just a sport for pleasure, owners with L L Asia, the Mediterranean and Europe. Once consid- small and large pocketbooks seek returns on their investment Jered the "Sport of Kings", today's horse racing has evolved in And a jockey's livelihood for the month can be decided in a o multi-billion dollar entertainment industry. Owners, jockeys. matter of seconds. trainers, and horses travel the globe in search for a win. Crossing An Owner must assess whether to invest in the potential the finish line in one of the top three places can produce signifi. of young colt or buy an experienced mare. Pedigree, age, and can earnings from the modest past performance are just a lew racing circuits in small cities factors alongside sentiment. to the extravagant payouts of Managing HORSE RACING... the most prestigious venues. In Numbers or Emotion, Which to seek a thoroughbred from the Hong Kong circuit alone, Works Better? England's hallowed breeding wirning owners can earn up to grounds in Newmarket or to 60% of prize money ranging lean toward the bloodline of From $100,000 to over $3 million per weekly race ser a seuson an Ambian, Evaluating the retum on investment must be weighed winning jockey and trainer can easily earn 10% cach from an against the of ownership including training und boarding fees. owner's winnings Decisions do not just rest in ownership. A jockey makes Fans from all walks of life shure in the enthusiasm as they split sccond decisions during a race while galloping at speeds fill massive grand stands and hotel rooms. Hong Kong's world exceeding 35mph. Not knowing a horse's tendencies or using class Happy Valley Racecourse can draw up to 55,000 spectators the wrong race strategy could lead to life threatening injury to on any given night. The Dubai Cup with the largest purse in all horse or rider. A well prepared jockey studies course dimen of horseracing at a $10,000,000 attracts not only the top horses sions and the patterns of competitors. Horse preparation relies in the world but entices tourists to visit the United Arab Emirates United Arab Emirates on the daily decision of trainer who must decide optimal diets eager to experience the spectacular Meydon Hotel overlook and appropriate equipment such as proper fitting horseshoes. ing the Dubai racecourse. And the Kentucky Derby continues This extends to exercise routines monitored by data collected to draw record-breaking crowds lo che U.S. city of Louisville via smartphone apps and tracking of graphical data where ticket prices for this specMele can range from $43 for gen The rationality of science continues to permeate the sport. Setul admission tickets to $11,000 for an upper clubhouse scat Race teams sock competitive advantage via genetic testing and As the big business of horse racing continues to grow, risk aerobic measurements. Yet, at the end of the day, many deci. and uncertainty in this high stakes affair looms heavy for its sions are still made by one's love and feel for the horse. 138 Part 2 . Planning Discussion Questions 4.18 What are sume examples citational and intuitive decision mak ing that you may see in horse racing 4-19 Ajockey fure Melbourne, Australia is swayed by a friend to race at the last mince Happy Valley Hong Kong without a track preview. How would bude rationality alfect the jockey who normally races in Australie? 4-20 What decision-making approaches could an own use to help decide what type of horse to buy? 4-21 Suppose some trailers meet at a conference and view a p. 3 sentacion about en organic new fece that naturally improves muscle development in race horses. A trainer who did n01 21- tend the presentation hears eachtrainer wholnil the presenta tion signed up for a month's supply. Then the trainer decides to follow suit without gathering any evidence. What type of de Sion bas would you consider this to be