Opinion & Analysis

Winning and the endowment effect

Published

3 years ago

May 30, 2023

A central concept in behavioral economics is the endowment effect. Coined by Richard Thaler at the University of Chicago, the endowment effect describes how people tend to value items they own more highly than they would if they did not belong to them. So how does this relate to sports, or more specifically, to golf? Let me explain.

Golf is hard. Winning is harder. Golf has created a lure where winning major championships is the hardest of all. The problem is that mathematically a win is a win. This means that valuing wins differently is actually an instance of the application of the endowment effect in golf.

Winning in golf creates an inverse normal distribution where winning can be very hard, then easy, and then very hard again. To win, players must evoke the “hot hand”; this is the idea that success breeds success. In golf, the reality is that birdies come in streaks; players typically enjoy a run of birdies over a couple of holes. The goal for every player is to hold this streak for as long as possible. The longer and more often they are able to do this, the more likely a player is to win.

Another question is, how much do players value wins? At the current moment, up to the PGA Jon Rahm sees winning as easier (or less valuable) with his recent win at the Masters and other early season events to accompany his U.S. Open win from 2021. However, that changed at the PGA, when he opened with a round in the mid-70s. All of a sudden the lure of the trophy distracted Rahm. Likewise, we saw both Corey Conners and Hovland hit extremely rare shots into the face of the bunker on Saturday and Sunday. These are shots that do not happen under distribution. In my opinion, the prestige of a major was at the root of these shots.

To overcome the barrier of becoming a champion, players must first understand that winning is not special. Instead, winning is a result of ample skills being applied in duration with the goal of gaining and holding the hot hand. The barrier for most players with enough skill to win, the endowment effect tells us, is that they overvalue winning. Doing so may prevent them from ever getting the hot hand. So maybe, just maybe, the key to winning more is wanting to win less. Easier said than done when one’s livelihood is on the line, but to overvalue a win at one specific tournament, be it the Masters or the two-day member guest, may be doing more harm than good.

Opinion & Analysis

AVL: My U.S. Amateur local qualifying experience

Published

6 days ago

Jun 5, 2026

Andrew Von Lossow

This past Monday, I played in the U.S. Amateur local qualifier at Rock Creek Country Club in Portland, Oregon. A full tee sheet from 7:30 a.m. to 1:55 p.m., the top 11 scores would make it to the U.S. Amateur final qualifying.

I teed off at 10:48 a.m.. With the 7:30 am tee time, you can get a feel for the leaders’ pace, and they were off and running on the challenging setup at Rock Creek.

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Getting to the highlight of the round on the par five 17th, a drive up the left side and 212 yards left to the front hole location. I took out a 5-iron with plans of middle of the green. The ball ended up 8 feet left of the hole, pin high. A slight downhill putt dropped in for an eagle 3 on the 17th. With the cut line looking to be anywhere from -2 to even par. This was the boost I had been waiting for all day.

With making par from the trees on 18, it was time to wait for a potential playoff with a posted score of one under par 71.

Three hours later, it was playoff time. 8 players for 6 spots. I made par on the playoff hole, which was good enough to advance to the U.S. Amateur final qualifying in July. USGA qualifiers sure deliver on all of the emotions in golf!

Club Junkie

Building my 2026 gamer WITB: Ranking the contenders and new putter projects – Club Junkie Podcast

Published

7 days ago

Jun 4, 2026

GolfWRX Staff

The annual What’s In The Bag build is underway, and on this episode of Club Junkie, Brian breaks down the clubs currently leading the race for a spot in his 2026 gamer setup. From drivers and fairway woods to irons, wedges, and shafts, he ranks the equipment that’s performing best and explains what’s separating the front runners from the rest of the field.

Brian also heads into the workshop to discuss several putter projects currently on the bench. From head options and shaft choices to build ideas and testing plans, he shares what he’s working on and which putters could become serious contenders for the bag this season.

If you’re a gear junkie who loves equipment testing, club building, and the never-ending pursuit of the perfect setup, this episode is for you.

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Club Junkie

Tour Edge Exotics mini driver review + TaylorMade Spider ZT Max first look – Club Junkie

Published

2 weeks ago

May 28, 2026

Brian Knudson

On this episode of Club Junkie, I put the new Tour Edge Exotics Mini Driver to the test and break down the performance, forgiveness, distance, and where it fits compared to a traditional driver or strong fairway wood. If you have been curious about adding a mini driver to the bag, this one is worth a look.

I also dive into the new TaylorMade Spider ZT Max putter that was recently spotted and discuss the growing zero torque putter trend. Plus, there is a closer look at the new Project X Titan Yellow shaft showing up on the PGA Tour and what makes it different from other profiles currently out there.