Examining how to wield the power of the trade offer, both when sending and receiving, more effectively.
When it comes to trades and negotiation, we have already covered a wide array of topics, from anchoring to negotiation styles to the default effect to choice architecture. What we have not covered, though, is the effect of the focusing illusion on fantasy baseball trades. Daniel Kahneman coined the term, and in discussing the focusing illusion, he famously said, “Nothing in life is as important as you think it is when you are thinking about it.”
Our means of trading is the trade offer and the trade offer inherently causes us to focus on particular players (the player being offered or requested) or a particular type of trade (a pitcher for a hitter or an expiring asset for a long-term asset). As a result of this, the focusing illusion likely plays a large role in determining the trades that get made, but how so?
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Jeff explains what to look for when scanning leaguemates' roster in search of offseason trade opportunities in keeper leagues.
I don’t have anything to say specifically regarding third base, so I wanted to use this week’s article to discuss a subject we have not yet touched this year in this column: pre-draft and pre-auction trades in keeper leagues.
In theory, we should see two types of trades: the at-different-points-of-the-contention-cycle trade and the challenge trade. The first happens when teams value players differently because of their difference in distance from competing for a championship. A team, for example, competing for a championship this year might find great value in Victor Martinez, whereas a team that will not be competing for a championship the next two years will have no value for Martinez other than what he can return via trade. Meanwhile, a challenge trade happens when two teams just value players differently. Because of our old friends the endowment effect and defensive decision-making, these trades rarely happen.
How to identify the players you should seek in your upcoming fantasy barters.
Earlier this week our wonderful fantasy staff put together their Second-Half Buys. I, absent such fullness of wonder, did not participate, and for that, I apologize. To make up for this, my plan is to help us try to develop some tools for finding our own second-half buys, our own trade targets.
This skill, finding trade targets, is incredibly important, obviously, but it is likely even more important in today’s (fantasy baseball) game. Why is it more important today than it was ten years ago? Because, as we have said many times, the internet has made it difficult to differentiate via information asymmetry. Put differently, as soon as we posted our staff’s “second-half buys,” those players likely became more difficult to acquire—either their acquisition price in trade or FAAB went up or someone looked to scoop them from the free agent pool. This does not hold true for every player or recommendation (some fantasy baseball participants do not read fantasy analysis and some only read some sites), but it holds true for more players than you, or at least I, originally thought. Why? Because these recommendations are not random strokes of genius. We, as a fantasy baseball analysis community, largely follow the same twitter accounts, read the same articles, and are thus likely to write-up and analyze the same player because those players are most likely to be top of mind. This is not a criticism, it is just how our brains work, and I point it out in order to highlight the increased importance of finding trade targets outside of and in addition to recommendations from fantasy baseball experts. Moreover, the more players we can target, the more we can shop around for the best price. Lastly, not everyone wants to put in the effort, so those willing to do so can often get better than expected deals.
Staff picks for players you might want to acquire in your fantasy deadline deals.
The members of fantasy team here at Baseball Prospectus have each selected one player they have their eye on targeting for the second half in trades. Some are more expensive to acquire than others, but they are on this list because their current market value is lower than their expected value the remainder of the way. Here are those players, in alphabetical order:
Javier Baez, INF, Chicago Cubs
The return of Dexter Fowler has seemingly relegated Baez to a more traditional bench role. Baez started in only three of six contests over the past week, including just one of three since Fowler’s reinstatement. I can’t tell you when and where the at-bats are going to come from; with a full-time outfielder back in the fold, there will likely be fewer appearances on the grass for Bryant and Zobrist, and therefore less opportunity on the dirt for Baez. It’s that uncertainty that makes him a target, though, as it should drive his price down. When he’s gotten the chance, Baez has shown the kind of multi-dimensional skillset that will make him an early-round selection in the coming years. He’s on the verge of double digits in both home runs and swipes in 250 plate appearances. Most importantly, his average sits at an unexpectedly excellent .285, with PECOTA projecting a tolerable .244 the rest of the way. Improvement in his contact rate even as he’s gotten more aggressive have upgraded his outlook from the batting average sink I once thought he’d be. I find it hard to believe the Cubs will stagnate the 23-year-old’s development by making him a twice-a-week player going forward, especially as they sit on a comfortable lead in the Central. Invest if Baez’s current owner doesn’t have the patience to wait for the path to become clear. – Greg Wellemeyer
Why most barters occur on the day weekly transactions are processed, and how to take advantage of such trends.
Fantasy baseball trades, as we have discussed previously, tend to happen at certain times. They happen after the last of the big free agents sign in the offseason, right before the keeper deadline, and right before the league’s trading deadline. More than anything though, at least in the leagues in which I participate, trades happen on the day of weekly transaction. For many leagues, this day is Sunday. These days, especially at this time of the year in leagues with active trade markets, are fun days. If we’re lucky, the messages, emails, and texts are flying as we see what is out there and try to improve our team.
Examining the tacticts behind consummating a swap if you're in first place or dealing with the first-place team.
First, to clarify, by leader, we mean an entity that all others are trailing in a competition, not an entity that others follow in action.
Right now, and always, we are either leading, tied for the lead, or not leading; that’s fantasy baseball for ya. Here at The Quinton, we tend to have our discussions more in terms of teams that are focused on the short term (buyers) and teams that are focused on the long term (sellers) as opposed to teams currently in first and teams not currently in first. The reason for this is that, in theory, which team is in first place should not matter; each team should be focused making decisions that will most increase their odds of winning. As we have so often said, though, “in reality, this reality ain’t theory.” In this case, it does matter which team has the lead. It also matters whether the league is in a redraft or dynasty/keeper league. We will discuss each of those scenarios below, what behaviors those situations tend to cause, and what we can do take advantage or best deal with those behaviors. (Lastly, the scenario we are going to be discussing is when a team has clear lead.)
Why the moves you decide to make in-season can be a function of how you frame your team's problem.
It’s midseason and we all have some work to do to get our fantasy baseball teams to where they need to be if we are going to maximize our chances of winning. Luckily, we all know what to do: find our weaknesses and the areas where we can improve the most, figure out what we can afford to give up to improve, and then make it happen. We have spent a lot of time discussing why we so often cannot act optimally, why we cannot execute against our strategies or our goals, and how we can take advantage of the instances when our leaguemates fall victims to these obstacles. These discussions always come with some big assumptions: (i) that we are able to find the proper strategy and (ii) that the proper strategy at the point of the discussion will remain the proper strategy. Today we will take a look at these assumptions.
Before we get into process, strategy, and decision making, we should revisit an oft-told fable from my time growing up in this country. Luckily, it is short. It goes something like this,
Helping you get the most out of your swaps this summer.
Flags Fly Forever. Hey, that’s the name of the podcast I co-host weekly with Bret Sayre and producer George Bissell. So I know a thing or two about going for it at all costs, decimating my team’s future in pursuit of a title, and sacrificing the potential plum of back-to-back championships in favor of a “certain” win this year. As a rule of thumb, this is sage advice. If you are on the fence about a trade in a keeper or dynasty league because you are worried you are giving up too much value, odds are good that you should make the trade immediately and worry about 2017 and beyond later.
Yet there are cases where you can go too far and sacrifice too much future in exchange for the present. This seems to fly in the face of the advice that every fantasy expert has ever dispensed. But there are cases where it can happen.