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Risk equivalence as an alternative to balancing mean value when trading draft selections and players in major sporting leagues
- Source :
- PLoS ONE, PLoS ONE, Vol 14, Iss 5, p e0217151 (2019)
- Publication Year :
- 2019
- Publisher :
- Public Library of Science, 2019.
-
Abstract
- In sports leagues that use an annual draft to assign eligible players to clubs, having a value associated with a draft selection can allow clubs to anticipate future growth of players and, if a trading period exists, assist negotiations when exchanging draft selections and players. Typically, mean draft values often decline in either an exponential or geometric manner with increasing draft selection number. Aggregate mean values have been used to compare trade packages. However, clubs may also want to ensure that a trade does not increase the probability of obtaining poor players in the draft. This paper therefore considers equivalence of risk as an alternative trading strategy for club list managers. Here, risk is defined as the probability of the aggregate value of the received draft selections being below a minimum acceptable level. For risk equivalence, a premium over and above mean market value may need to be provided when trading to secure higher draft selections.
- Subjects :
- Economics
Social Sciences
Infographics
Hull
Salaries
Psychology
Trading strategy
050207 economics
Market value
Equivalence (measure theory)
GeneralLiterature_REFERENCE(e.g.,dictionaries,encyclopedias,glossaries)
050205 econometrics
media_common
Multidisciplinary
Careers
05 social sciences
Charts
Sports Science
Negotiation
Physical Sciences
Medicine
Club
Games
Research Article
Sports
Statistical Distributions
Employment
Adult
Computer and Information Sciences
media_common.quotation_subject
Science
League
Athletic Performance
0502 economics and business
Humans
Personnel Selection
Behavior
Actuarial science
Data Visualization
Mean value
Biology and Life Sciences
Probability Theory
Probability Distribution
Athletes
Labor Economics
Recreation
Business
Mathematics
Finance
Subjects
Details
- Language :
- English
- ISSN :
- 19326203
- Volume :
- 14
- Issue :
- 5
- Database :
- OpenAIRE
- Journal :
- PLoS ONE
- Accession number :
- edsair.doi.dedup.....bce1a358b06f06e48604c24d8d1b933b