Adam Schefter and Andrew Luck: the ethics and economics of the scoop

I didn’t expect to still be blogging about Colts quarterback Andrew Luck’s retirement, but lessons beyond sports continue to unfold.

For instance, one unfortunate consequence of the timing of ESPN reporter Adam Schefter’s tweet that Luck retired is that several Colts fans booed Luck at the end of a Colts preseason game. Some wondered, why didn’t Schefter hold on to the news until after the game?

I haven’t taken a journalism class, but I can answer the question: Because he’s a journalist.

Schefter’s brand is to be the first with NFL news. His brand helps ESPN’s brand. If he didn’t tweet the news as soon as it was confirmed, a rival from another prominent media company might have.

But what’s so important about being the first to report? What’s so great about “the scoop?”

Because it’s good for journalists to release news as soon as it’s confirmed. For instance, there were fantasy football implications with the timing of the news. O.J. Simpson, of all people, spoke for the Common Man:

Andrew Luck you couldn’t have shared that news before I drafted you an hour ago? #andrewluck @Colts

If nothing else, Luck’s retirement provided valuable information to fantasy leagues that had yet to hold their drafts, particularly on that day. But there’s more to it. The longer an organization withholds information, the more miscalculations are made throughout the…