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March 16, 2004
Bill James, Too Abstract
Posted by Nick
Here's an interesting interview with Bill James. What struck me most was this comment from James:
"When you're in a position where you HAVE to overspend for a player--you HAVE to pay more for a player than he really is worth--how do you know when to stop? It's a very serious question for every baseball team, and I have a way of deriving an answer. Theo needs an answer, and ownership needs an explanation. Theo doesn't HAVE to buy my answer, and ownership doesn't have to buy my explanation. Theo is free to ignore my calculations; ownership is free to reject my approach. But. . .they need an answer; I have an answer."
What is his answer? The interview doesn't say, but wouldn't the Jamesian answer be you know when to stop when you reach the price the player is worth? If not, why not?
Meanwhile, Dan Drezner discusses why Bill James is not an economist.
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Nick Schulz is the Editor of Tech Central Station and has worked in media circles and the ideas industry as a writer, editor, television producer and policy analyst. His writings have appeared in The Wall Street Journal, The Los Angeles Times, The Washington Post, Slate, The National Post of Canada, The Baltimore Sun, Investor's Business Daily, The Washington Times, National Review, Reason, Policy Review, and several other publications. He is also, it should be said, a rabid sports fan whose fandom is inversely proportional to his overall athletic ability.
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