[MicroBob]

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The main reason was that a lot of good results can happen from a bunt attempt, aside from a basic successful sacrifice: hits, errors, a fielder unsuccessfully trying to get the lead runner, etc. And the good results outweighed the bad results of an unsuccessful attempt, maybe not in terms of frequency but in terms of degree.

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Not to mention that the THREAT of bunting or just one show of a bunt (took the pitch or fouled it off) forced the defense to respect the possibility that you might do it again which can also increase your chances if you then decide to swing-away (mostly due to the drawn-in 3B but also possibly by hitting behind one of the middle-infielders if he's rotating one way or another).