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Best Value?

Recently I've come to the realization that fans have a tendency to grant a value premium to players who qualify in some way as the 'best' at what they do, even in situations where a value premium isn't really justified.

Star-divide

The specific situation that got me thinking about this is a friend's question about the likelihood that Barry Larkin, the longtime Cincinnati shortstop, will be elected into the Baseball Hall of Fame when he enters the BBWAA ballot for the first time next year.

Larkin's biggest challenge in getting into the Hall of Fame is likely going to be the same challenge he had at being recognized as the best shortstop in the National League during his career -- for a number of years, Larkin was a contemporary of Ozzie Smith, who was named to the Hall of Fame in 2002. Larkin and Smith aren't quite as contemporaneous as I remembered -- when Smith finished second in the MVP vote in 1987 for helping the Cardinals win the NL pennant at age 32, Larkin was finishing his first full season in the major leagues at age 23. Still, Larkin and Smith played in the same league -- in the same division, even -- for about a decade until Smith retired after the 1996 season.

There was nothing wrong with Barry Larkin as a player -- he finished as a career .295/815 hitter with a career OPS+ of 116, and in over 2000 career games at shortstop he had both a range factor and fielding average above the league average. Unfortunately, he was continually compared with Smith, who played the same position and was considered one of if not the greatest defensive shortstops ever to play the game.

Now there's certainly a reasonable argument to be made in favor of the premise that Smith was the greatest defensive shortstop ever; that's not the problem. The problem is, if you look at Larkin and Smith without taking into consideration that Smith was one of the greatest defensive shortstops ever, you find that the two men were of surprisingly comparable value:

- Both men played 19 major-league seasons, and were full-time players into their late-30s
- Both men were frequent All-Stars: Smith was named to 15 All-Star rosters, playing in 14 games and starting 11 straight; Larkin was named to 12 All-Star rosters, playing in 9 and starting 5
- Smith probably should have won the MVP award in 1987 (Andre Dawson won it in his first season playing in Wrigley Field after a career to that point in Montreal); Larkin won one MVP award in 1995 as the Reds advanced as far as the NLCS before being beaten by the Braves.

Here's the kicker, though: Smith, in 19 seasons, amassed a total of 320 Win Shares, a tremendous number.

Larkin amassed over 330 Win Shares in his 19 seasons.

If you're a 'believer' in Win Shares, that right there should cinch it. Perhaps you're not, though, and you want to know how Larkin could be considered at least as valuable if not more valuable than the greatest defensive shortstop in baseball. Let's take 1992 as an example:

In 1992, Ozzie Smith hit .295/709 and amassed 72 Runs Created. His OPS+ tallied out at 105, which compared to his career average showed that '92 was one of Smith's better seasons with the bat. in the same season, Larkin hit .304/831, amassing 94 Runs Created with an OPS+ of 132, also an above-average season with the bat. That 22 run difference is not insignificant -- as a comparison, the difference between Nick Punto's 2006 batting numbers and his 2007 batting numbers equals 23 Runs Created.

So if you're going to argue that Smith was not just more valuable but significantly more valuable than Larkin in 1992, you have to be able to argue that Smith's fielding was worth significantly more than 22 runs over Larkin's fielding.

- Smith made 232 putouts and registered 420 assists in just over 1150 defensive innings while committing just 10 errors. He won his 13th consecutive Gold Glove for this performance
- Meanwhile, Larkin made 233 putouts and registered 408 assists in just over 1200 defensive innings while committing just 11 errors.

Smith's defensive numbers are clearly better than Larkin's, but are they over 22 runs better? I think that's a hard thing to argue. Win Shares has a comparison between the two men -- Smith is listed as having put up 20 Win Shares for the Cardinals in 1992, while Larkin led the Reds with 32 Win Shares that year. Of course, if you didn't believe the Win Shares analysis for their respective careers, you're not necessarily going to believe this single-season analysis, but the question stands: if you think Smith was a better all-around shortstop than Larkin, in 1992 or in his career, how do you justify that without giving Smith what amounts to a 'bonus' for being the best at what he does?

The key here is that being the best at something doesn't, in and of itself, provide any value to a ballclub, though fans will often assume that there is some bonus value involved in being the best.

Take, for example, the expectation for the Twins in 2007. They had just come off a magical season where they rallied from far back in the division to win on the final day of the season. On Opening Day 2007, the Twins performed a ceremony where they awarded the league's batting title, MVP award, Cy Young award, and Gold Glove in center field to their own players.

If we have all of these players who are the best at what they do, went the argument, how can we not be the best team in the division?

Well, we weren't -- not anywhere close to it based on the end-of-season standings.

The point where this really strikes home, though, was in some folks' reaction to the signing of Adam Everett as a free agent. Everett was known not to be a hitter, but his reputation as an 'elite' defensive player, arguably the best shortstop in the National League (despite not having won even one Gold Glove) convinced some folks that even if his bat was no better than Nick Punto's, his glove would help the team's bottom line.

Let's ignore, for the moment, Everett's injury troubles that have markedly reduced his defensive prowess thus far in 2008. If Everett was the defensive wizard that he was alleged to be, would that really have helped the Twins in the win column? Let's do a Player A/Player B from 2006, the last season in which Everett was fully healthy, as an example: (all stats courtesy of the Hardball Times)

Player A: 1292 defensive innings, 202 putouts, 479 assists, 104 double plays (44 started, 60 turned), 396 balls in zone, 60 plays out of zone, RZR .891
Player B: 1356 defensive innings, 241 putouts, 493 assists, 111 double plays (59 started, 52 turned), 458 balls in zone, 53 plays out of zone, RZR .819

Other than that RZR rating, these guys look pretty close, don't they? The biggest difference between the two players that accounts for the RZR rating is that player A -- Everett -- committed 6 errors in 2006 while player B committed...14 errors. Player B had an extra 62 balls hit into his zone, but he also made 53 more plays than Everett. Player B committed eight more errors, and allowed 9 other balls hit into his zone to go through, ostensibly for hits. (Player B also made fewer plays out of zone, but the idea behind tracking the zone in which the ball is hit is not to penalize a player for not making plays that arguably aren't his responsibility, so we'll ignore them for this comparison.) How many runs does that add up to? I'd say 20 runs would be a very generous estimate and the actual number would likely be less than that.

Player B is Michael Young of the Texas Rangers, who hit .314/814 and made over 100 Runs Created for the Rangers that year, while Everett hit .239/642 and created just 53 runs. The difference between Michael Young's bat and Adam Everett's bat was well over twice as valuable to the Rangers in terms of runs than the difference between Adam Everett's glove and Michael Young's glove was to the Astros, even using the generous estimate we arrived at above.

If I may be allowed one more visit with Win Shares before this essay ends: Everett's 2006 season was rated as worth 12 Win Shares to the Astros. Meanwhile, Jason Bartlett's 2006 season was rated as worth 13 Win Shares to the Twins.

There is no additional player value that comes from simply being 'the best' at something.

1 recs | Comment 13 comments

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I think you mean Larkin for the second Smith here....

So if you’re going to argue that Smith was not just more valuable but significantly more valuable than Smith in 1992

by Jesse on May 18, 2008 7:58 PM EDT   0 recs

Good catch, Jesse

I’ll make the edit.

by dwintheiser on May 18, 2008 10:40 PM EDT to parent up   0 recs

This is an interesting read.

I’m too tired to respond coherently at this point, but I’ll join the discussion tomorrow. This is good.

by Jesse on May 18, 2008 7:59 PM EDT   0 recs

Another good post

Mr. Wintheiser. Your thesis’ always seem so apparent to me that I almost dont even read any further, but I do and I enjoy the read.

by montanatwinsfan on May 18, 2008 11:18 PM EDT   0 recs

Wow, that was a lot on this subject

and I’ll grant you a degree in thoroughness, at least as far as the Larking thing goes.

But, can you make this claim based on your evidence?

There is no additional player value that comes from simply being ‘the best’ at something.

I’m not trying to be negative so hang in here.

What is “player value”? And how is it measured?

I personally think that there is some “player value” in being the absolute best at something. There is always value in being the best at a particular skill.

But, the point is, baseball is about the number of wins by a “team”. All this carving away of performance based on individual numbers is reductive and, IMHO, beneath the dignity that shines through individual player performance.

It’s worth something to a team to know that they have the best catcher in the league, the best center fielder, the best home run hitter. It’s intangible, but I believe it’s there. A little extra swagger.

Remember, these are guys hanging their egos on the line in a game that is all about humility. Do they need a sense that they have something special in their dugout, especially when they go to Boston, Detroit, Chicago?

You bet they do.

by Old Twins Cap on May 18, 2008 11:56 PM EDT   0 recs

What is player value?

That’s a great question—heck, it’s one of the fundamental questions of sabermetrics.

My feeling is that player value is best measured as that talent that a player possesses, expressed in performance, which helps a team win games. In theory, everything that a player does and is that comprises value is measurable, but in practice, we really have no way to measure things like work ethic, leadership, and similar ‘intangibles’. This doesn’t mean those things don’t count—but neither does it mean that, if one player seems to be of equal or inferior value to another, you can simply even or rebalance the scales in the former player’s favor by talking about that player’s ‘leadership’.

For instance, there’s is clearly value in a player being able to hit .325/850 for a full season; there’s plenty of analysis to back up the idea that such a player has value, and plenty of ways in which to measure precisely how much value that player brings to his team in terms of wins. There’s value in that player playing a particular defensive position (such as catcher), especially if it’s a position where players don’t normally perform at that high of a level. There’s value in that player’s defensive ability, even if we’re still not really at a point where we can easily quantify how defense translates into wins and losses.

My premise is that, if you have a .325/850 hitting catcher with excellent defense, that’s worth a certain amount of value to his ballclub. If that player happens to be the ‘best’ catcher in the league, this doesn’t make the player any more valuable in terms of the number of games his team will win or lose.

Keep in mind that I’m not saying that the player’s relative performance level doesn’t matter - if your catcher is the best in the league and the average catcher only hits .280/725, obviously that’s a good thing. I’m not sure there’s actual value there, but I can’t completely rule out that there may be value that we just don’t know how to measure yet. At the same time, Value Over Replacement Player isn’t a separate declaration of value than simply stating the player’s value; VORP simply sets a different ‘zero point’ - if someone has a VORP of X and Y Win Shares, that’s the same value, just expressed in two different ways, just as 2*5 and 4+6 are the same value expressed in two different ways.

What I’m saying is, if the average catcher hits .280/725, it doesn’t matter if the second-best catcher in the league bats .290/735 or .310/825—or even .335/875 with bad defense. It doesn’t matter if the worst catcher in the league hits .230/600 or .250/700. Your catcher’s value doesn’t change just because another catcher hits closely or farther away from his numbers. Joe Mauer doesn’t get less valuable when the Twins replace Henry Blanco with Mike Redmond; Mike Redmond is more valuable than Henry Blanco, which allows the Twins to replace more of the value they lose if Mauer isn’t available.

Your premise that players need a sense that they have something special when they head into the dugout against another team is interesting, and I’d be curious to see if any studies might support the idea that less talented rosters with ‘star’ players perform better than rosters with more balanced talent. Heck, that effect, if it exists, would almost exactly duplicate the effect of what baseball men have been calling ‘leadership’ for some time now, and it might make a good way to quantify leadership and make it more measurable rather than leaving it as the ‘we don’t know how to explain this, so we’ll just claim God did it’ answer that it is now. And if true, that would be a form of value that would derive largely just from being the best at something.

As it stands right now, though, fans give far too much credit (IMO) to players who are the ‘best’ at something, especially when that something is based on statistical measures that, I’ll even admit, aren’t always precise in measuring the underlying talents that we assume they’re measuring.

To go back to the idea that sparked the essay—Ozzie Smith was elected to the Hall of Fame on his first-ever BBWAA ballot, with over 91% of ballots listing his name. I would be shocked if Barry Larkin was even elected on his first ballot, much less elected with as much as 90% of the vote, despite a very good argument being available that, in terms of value to their franchises, Larkin was just as valuable if not more so than Smith was. I would argue that people who claim Smith is a better shortstop than Larkin are giving Smith a bonus for being ‘the best defensive shortstop of all time’, and I don’t think that bonus is necessarily warranted.

Good response, though.

by dwintheiser on May 19, 2008 12:50 AM EDT to parent up   0 recs

Well, which team

won the World Series? Barry Larkin’s? Or the Z man?

Seems to me that we grant a certain amount of prestige and excellence to a player when their TEAM wins a World Series.

That may be luck, and I’m not opposed to luck being a deciding factor in life. It’s worked for me.

But, I guess, I just am not sure that all of these individual statistics are missing the point. The player is trying to win a game for his team. No matter how good he does, if the team is not winning, he just is not going to be MVP.

Thus, the expression of individual performance, taken out of context, really has limited value IMO, in terms of measuring “player value”, precisely because player value has to do with the overall “fit” he makes with his teammates.

I predict that in the future baseball analysis will move beyond examining these individual player statistics, and begin to explore the synergies between different players who find a way to complement each other in fruitful ways.

by Old Twins Cap on May 19, 2008 1:03 AM EDT   0 recs

Actually...

...each man won one World Series – Smith with the Cardinals in 1982, Larkin with the Reds in 1990. Smith’s Cardinals beat the Brewers in ‘82; interestingly enough, the Brewers had made the playoffs in the strike-shortened 1981 season, but were known as “Harvey’s Wallbangers” in 1982 (and not in 1981) because of manager Harvey Kuenn who was hired in mid-season and led the club to the playoffs. The Brewers fell out of contention in 1983 and haven’t been to the playoffs since. Larkin’s Reds swept the Oakland A’s, a team some are willing to argue was a dynasty (despite losing two of three Series they played), and a team that remained competitive through 1992, after which they were sold (and eventually became the Moneyball team we now know).

It’s also interesting to note that Smith’s teams (he played four seasons with the Padres before being traded, straight up, for Garry Templeton) were a combined 1485-1472 in Smith’s 19 seasons, 13 games above .500. If you don’t want to penalize Smith for his final three seasons when he was reduced to part-time play, you can say his clubs were 1282-1256 while he was a regular, 26 games over .500. During Smith’s time in St. Louis, the Cardinals had exactly three managers: Whitey Herzog, Joe Torre, and Tony LaRussa. (Oddly, Smith had the same number of managers in his four seasons in San Diego: Roger Craig, Jerry Coleman, and Frank Howard.)

Meanwhile, Larkin’s teams were a combined 1515-1497 in his 19 seasons, 18 games over .500. (Smith’s career covered two labor stoppages—1981 and 1994/5, while Larkin’s covered only the latter, which is why Larkin and his teams have more games played in the same number of seasons. Again, if you don’t want to penalize Larkin for the performance of his team when he stopped being a regular, you can say his clubs were 1292-1234 when he was playing regularly, 58 games over .500. During this time, the Reds had the following managers: Pete Rose, Tommy Helms, Lou Pinella, Tony Perez, Davey Johnson, Ray Knight, Jack McKeon, Bob Boone, Ray Knight again, and Dave Miley. Some good men, but not nearly the same consistency of quality as Smith’s Cardinal clubs.

Smith’s Cardinals lost the Series in 1985 (to the Royals) and 1987 (to the Twins), and lost the NLCS in 1996 (to the Braves) after Smith had become a part-time player. The Reds lost the NLCS in 1995 (also to the Braves), and were leading the NL Central in 1994 when the season was cancelled.

If you want to give some prestige to a player for his team doing well, then it’s pretty clear that Larkin deserves as much prestige as Smith—each man won the same number of Series, and it could be argued that, if not for the strike in 1994, each man would also have reached the playoffs the same number of times as a regular (Smith played in just three of the seven games against the Braves in 1996 and was hitless in 9 at-bats with no walks.)

by dwintheiser on May 19, 2008 2:08 AM EDT to parent up   0 recs

Off-field value

Great essay, as usual. I always enjoy your stuff, even when it’s about Luis Rivas I don’t agree with it.

While I agree with you that I don’t believe there’s any on-field value to being “the best” at something, it’s possible that it still could be in a team’s best interest to overpay for that quality. A player who’s recognized, even erroneously, as “the best” at a highly-visible skill could result in an attendance bump as people come to see him play. I don’t know whether there’s any data on this, but it would be interesting to see, for example, if the Twins had higher attendance when Johan Santana pitched (dominant starting pitchers are the easiest test cases for this; about the only same-year test would be midseason acquisitions, which are dicey because the team is in contention and already may be in the early stages of an attendance spike).

I don’t think my idea directly applies so much to players who are ‘the best (whatever)” as it does to players who are simply stars, but it’s a similar concept, and I do think that, from the business end, there is a case to be made that a so-called “marquee” player is worth more to the team than a lesser-known player of equal skill, even if your proposed “leadership effect” (which I also doubt) doesn’t exist.

Regarding the shortstops, I believe Barry Larkin deserves to be in the Hall of Fame, and I would be fairly surprised if he makes it at all, much less on the first ballot. The whole “contemporary who was more famous at the same position” thing is always rough – Alan Trammell never really got a fair shake because he was always behind Cal Ripken in the annals of “great-hitting AL shortstops”, and I think Tim Raines will have a hard time because even though he may have been the second-greatest leadoff man of all time, he played at the same time as the greatest one (Rickey Henderson).

"There are only two things that are infinite, the universe and human stupidity, and I'm not sure about the former." - Albert Einstein

by BeefMaster on May 19, 2008 9:13 AM EDT   0 recs

Nobody ever said

Nobody ever said that Everett would be as good as big hitting Michael Young, just that he would be as good as, say, Jason Bartlett…

"You can't sit on a lead and run a few plays into the line and just kill the clock. You've got to throw the ball over the damn plate and give the other man his chance. That's why baseball is the greatest game of them all."
~ Earl Weaver
"In God we trust. All others must provide evidence."
~ Billy Beane

by AdamOnFirst on May 19, 2008 4:11 PM EDT   0 recs

John Lester gives us a great reminder

As a perfect example of what you’re talking about, John Lester just pitched a no-hitter. How much better of a game did he have than giving up 1 hit? Well, probably not much different. How much better would a perfect game have been, instead of two walks, a little, sure, but not a lot.
But here we are, listening to how he is a budding superstar because he pitched a one hitter and won the final game of the world series. Had he one the first game of the WS, and thrown a 1 hit, no walk game last night, there would be no front page headlines.

by snolls on May 20, 2008 1:39 PM EDT   0 recs

Personality

I think a lot of Ozzie’s extra value came from his personality. All the handsprings while running out to his position. That smile. He was a character people wanted to like, kind of like Kirby.

I’m not saying Larkin wasn’t a good guy. But he was more business like. He went about his work without flash or showmanship. Basball players are entertainers. People don’t want mere production, they want to be entertained.

That’s why, when all is said and done, Carlos Gomez and Delmon Young might have quite comparable careers numbers wise. But Carlos will be the more popular player.

"You're thinking too much. Just have fun." -- Bennie "The Jet" Rodriguez in Sandlot

by cmathewson on May 20, 2008 2:09 PM EDT   0 recs

Ozzie

I’m not convinced that personality is worth enshrining. I understand that the guys voting for the award probably want to reward the guys who make their lives easier, but I guess I don’t really see the connection between ‘easy player to interview/write about’ and ‘one of the best players in baseball history’.

There is one argument in favor of enshrining Smith over Larkin, and possibly not Larkin as a result—you can call it the ‘Mazeroski Gambit’. There are plenty of second basemen in the history of baseball who hit better than Bill Mazeroski. Depending on how much you want to value defense, you could even argue that there are plenty of players who are better all-around second basemen than Maz who aren’t in the Hall of Fame. The reason Maz is in, though, isn’t that he was necessarily a great all-around second baseman, but that he was THE greatest defensive second baseman in baseball history. If you are legitimately the greatest X in baseball history, and X isn’t a negative, that in and of itself is a reasonable argument for the Hall of Fame, in my view. It’s not that you’re positing that being the best defensive second baseman grants Maz additional value as a player, but that if the Hall is really about recognizing excellence, then you should recognize the most excellent players, in whatever field they excelled.

Even this argument, however, has two problems that I see:

1. It’s not necessarily true that Maz was the best defensive second baseman ever to play the game—just the best over a certain threshold of play. With enough research, you could probably identify players who were better with the glove than even Mazeroski, but who couldn’t hit enough to stay in the major leagues and thus didn’t have long enough careers to be considered for the Hall of Fame, which requires 10 seasons of major league service before a player is even considered for the ballot.

Philosophically, it’s not that much different from arguments about the lines drawn for batting titles and such - for instance, in 1990, George Brett won the AL batting title with a .329 batting average, even though Luis Polonia hit .335 combined for two different AL teams that year. Polonia had 436 plate appearances that year, however, and 502 are required to be considered for the batting title. So Brett clearly won the title - but does that mean he was really the best hitter?

2. The problem with saying that the Hall of Fame should recognize ‘excellence’, even if the players exhibiting that excellence wouldn’t normally meet the overall standards of enshrinement, is that you now have to decide what categories of excellence you’ll recognize as being ‘worth enshrinement’ and which you won’t. For instance, most of the career leaders in triples date from prior to the lively ball era, back when home runs were scarce. The players with the most triples in their careers who started playing after Babe Ruth’s retirement are Stan Musial (177 from 1941-1963), Roberto Clemente (166 from 1955-1972), and Willie Wilson (147 from 1976-1994). So you could legitimately argue that Willie Wilson is the greatest-hitter-of-triples baseball has seen since Clemente, and thus the best triples hitter of the ‘modern era’. Does that make him a Hall of Famer? Similarly, given Gardy’s like of the sacrifice, the list of the top 50 all-time career leaders in sac hits is a bunch of guys from the dead ball era and Omar Vizquel.

Granted, those are pretty marginal stats to use to quantify someone as the ‘greatest X ever’, but the point is you can sometimes find a marginal Hall of Famer who might otherwise qualify based on this criteria. For instance, if you search for the lowest rates of inherited runners allowed to score among relievers from 1961 through the present (with a minimum of 100 inherited runners to screen out starting pitchers who had a couple of good seasons in relief at the end of their careers), you find that the leader is none other than Jesse Orosco. Now Orosco actually would make an interesting Hall candidate; he’ll go on his first Hall ballot in 2009. But if he draws any Hall interest at all, it’ll be for his uniqueness (best LOOGY of all time?), because his career doesn’t match anything that currently exists in the Hall of Fame.

I personally would be tickled to see Jesse Orosco in the Hall of Fame, but I can accept that some folks would be mightily upset—I just wouldn’t expect those folks to be baseball writers is all.

by dwintheiser on May 20, 2008 7:49 PM EDT to parent up   0 recs

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