NoNameProf

Your school has a strong football tradition, but your team is often just short of its objective (say, OSU can not beat Michican, or vice versa), what are you going to do about your otherwise excellent coach? should you give him one more year, or 3 more years to show what he can do? or just fire him and start over again?

This is actually the optimal stopping problem. When do you fire an employee? when do you fire a coach? when do you get out of a relationship? when do you fire your congressman/senator (change your vote)? … my sense is that people are waiting too long, on average, to make the tough decision.

A coach should be replaced if he can not deliver the results in 3 years, period.