{"id":4077,"date":"2019-03-09T17:40:11","date_gmt":"2019-03-09T22:40:11","guid":{"rendered":"http:\/\/my.dev.vanderbilt.edu\/vrooman\/?p=4077"},"modified":"2019-03-26T17:09:51","modified_gmt":"2019-03-26T22:09:51","slug":"going-rate","status":"publish","type":"post","link":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/2019\/03\/going-rate\/","title":{"rendered":"The Going Free Agent Rate"},"content":{"rendered":"<p><em><a href=\"https:\/\/vanderbilt.box.com\/s\/jy8iudqh0ihfw91p0618422ft1undzqw\">The Going Rate<\/a>\u00a0for the 2019 Free Agent (Tier 3) monopoly market.<\/em><\/p>\n<p><em>After all is said and done the present values of the 2 deals for Bryce Harper and Manny Machado are about the same at around $200 million in 2019.<\/em><\/p>\n<p><em>The going rate for appears to be around $7.5 million PV per WAR in large markets like Philadelphia, which is the same as it was 3 years ago in 2016 when Boston signed David Price for $217 million over 7 years\/\u00a0(2016-22). PV = $165 million. <\/em><\/p>\n<p><em>This FA rate is systematically biased upward because of the winner&#8217;s curse inefficiencies inherent in the asymmetric monopoly power of the external free agent market. <\/em><\/p>\n<p><em>The amount of the external market tier 3 bias can be approximated at 30 percent by a comparison with the relatively efficient pre-free agent internal market price of $5.25 million PV per WAR (resigned own player with 2 years @ $31.25 million remaining in existing 2015-20 contact) to be paid by the\u00a0LA Angels of Anaheim for Mike Trout ($426.5 million over 12 years 2019-30.)<\/em><\/p>\n<p><em>Contract salary analysis for David Price in 2016 paints a clear picture of the 3 tier labor market discussed earlier\u00a0in the <a href=\"https:\/\/my.dev.vanderbilt.edu\/vrooman\/2019\/02\/labor-market-twist\/\">Labor Market Twist<\/a>\u00a0and <a href=\"https:\/\/my.dev.vanderbilt.edu\/vrooman\/2019\/02\/the-baseball-way\/\">The Baseball Way.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Going Rate\u00a0for the 2019 Free Agent (Tier 3) monopoly market. After all is said and done the present values of the 2 deals for Bryce Harper and Manny Machado are about the same at around $200 million in 2019. The going rate for appears to be around $7.5 million PV per WAR in large&#8230;<\/p>\n","protected":false},"author":5558,"featured_media":3242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,29],"tags":[],"class_list":["post-4077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mlb","category-sports-econ-blog"],"_links":{"self":[{"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/posts\/4077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/users\/5558"}],"replies":[{"embeddable":true,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/comments?post=4077"}],"version-history":[{"count":10,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/posts\/4077\/revisions"}],"predecessor-version":[{"id":4103,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/posts\/4077\/revisions\/4103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/media\/3242"}],"wp:attachment":[{"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/media?parent=4077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/categories?post=4077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/my.dev.vanderbilt.edu\/vrooman\/wp-json\/wp\/v2\/tags?post=4077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}