Lanky Livingston
Guest
Written quite well by my [Twitter] buddy Jason Woodmansee. Cites Thaler and Massey, who state that NFL teams overvalue high draft picks, by quite a bit.
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This week there has been a vocal segment of Redskins fans bemoaning Washington’s win in Seattle. Every win at this point of the season, the logic goes, is actually hurting the team because it drives the Redskins down the draft board. I’ll admit to having mixed feelings at times. I mean, I want to get a franchise quarterback like everyone else. But I also like to watch the Redskins, you know, win.
The Redskins can finish anywhere from 4-12 (if they lose out) to 9-7 (if they win out). This means that they will likely end up picking anywhere between No. 4 and No. 19. So what is more valuable, the wins or the higher draft position? Should I root for the Redskins to lose? I did the research.
Well, actually it turns out that someone else already did the research (*phew*). Scorecasting, a book that analyzes sports conventional wisdom, took a look at the work done by economics professors Richard Thaler and Cade Massey on the NFL draft. The conclusion? NFL teams overvalue high draft picks.
Thaler and Massey analyzed the value of each draft position based on historical data, such as probability of making the roster, the number of starts, and the likelihood of making the Pro Bowl. Not surprisingly, players drafted earlier outperformed players drafted later. But the unexpected part was that the earlier picks weren’t significantly better. For example, the economists found that the consensus top player at a position only performed 5 percent better than the consensus third best player at that position. Yet teams might pay four or five times as much in salary for that top player, or trade multiple picks in order to get into position to make the higher pick.
So, looking at the Redskins situation, the difference between picking fourth and picking 19th in the draft is that difference between the top player and the third player at a position of need. That third best player is likely to perform almost as well, and you didn’t have to sit through a string of depressing losses the previous season.
The ideal strategy, based on these numbers, is to trade down and assemble numerous draft picks. In fact, while doing their initial research, Thaler and Massey met with Dan Snyder and the Redskins front office, and provided the brain trust with this recommendation. The Redskins, of course, did the exact opposite, which is one of the many reasons they have struggled over the years.
In contrast, look at what the Redskins did in last year’s draft. They traded down numerous times, amassing lots of picks, and then picked well enough that most of the players drafted have actually played in games this year.
So, if improving your position on the draft board isn’t all that valuable, how important are wins once your team is effectively eliminated from playoff contention? (Yes, the Redskins are technically still in the hunt, but, c’mon.)
Click the link for the rest of the article.
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This week there has been a vocal segment of Redskins fans bemoaning Washington’s win in Seattle. Every win at this point of the season, the logic goes, is actually hurting the team because it drives the Redskins down the draft board. I’ll admit to having mixed feelings at times. I mean, I want to get a franchise quarterback like everyone else. But I also like to watch the Redskins, you know, win.
The Redskins can finish anywhere from 4-12 (if they lose out) to 9-7 (if they win out). This means that they will likely end up picking anywhere between No. 4 and No. 19. So what is more valuable, the wins or the higher draft position? Should I root for the Redskins to lose? I did the research.
Well, actually it turns out that someone else already did the research (*phew*). Scorecasting, a book that analyzes sports conventional wisdom, took a look at the work done by economics professors Richard Thaler and Cade Massey on the NFL draft. The conclusion? NFL teams overvalue high draft picks.
Thaler and Massey analyzed the value of each draft position based on historical data, such as probability of making the roster, the number of starts, and the likelihood of making the Pro Bowl. Not surprisingly, players drafted earlier outperformed players drafted later. But the unexpected part was that the earlier picks weren’t significantly better. For example, the economists found that the consensus top player at a position only performed 5 percent better than the consensus third best player at that position. Yet teams might pay four or five times as much in salary for that top player, or trade multiple picks in order to get into position to make the higher pick.
So, looking at the Redskins situation, the difference between picking fourth and picking 19th in the draft is that difference between the top player and the third player at a position of need. That third best player is likely to perform almost as well, and you didn’t have to sit through a string of depressing losses the previous season.
The ideal strategy, based on these numbers, is to trade down and assemble numerous draft picks. In fact, while doing their initial research, Thaler and Massey met with Dan Snyder and the Redskins front office, and provided the brain trust with this recommendation. The Redskins, of course, did the exact opposite, which is one of the many reasons they have struggled over the years.
In contrast, look at what the Redskins did in last year’s draft. They traded down numerous times, amassing lots of picks, and then picked well enough that most of the players drafted have actually played in games this year.
So, if improving your position on the draft board isn’t all that valuable, how important are wins once your team is effectively eliminated from playoff contention? (Yes, the Redskins are technically still in the hunt, but, c’mon.)
Click the link for the rest of the article.