Two Thousand More Words About the Cole Irvin Trade

There’s a simple maxim in the entertainment business, which we here at FanGraphs subscribe to: give the people what they want. You called for it (implicitly), and now you’re getting it: more discussion of the Cole Irvin trade! And hey, if that’s not what you want, you should have somehow broadcast your thoughts to me more clearly.
Here’s the overarching concept of today’s article: the total-’em-up-and-compare method of analyzing trades doesn’t really work, and in fact it hasn’t really worked for a while. I’ve got some criticisms of WAR-to-money conversions in here, too, and a general questioning of the way people apply the nebulous concept of surplus value to baseball players. Let’s get right into it.
In the comments to the Irvin piece, someone mentioned an angle that I purposefully ignored in my analysis: adding up Irvin’s projected team-controllable WAR and comparing it to the monetary prospect values Craig Edwards produced a few years ago. Subject to a few assumptions, that accounting of the trade favors the Orioles by a huge margin. Prospects in the 40+ FV tier, like Darell Hernaiz, don’t usually work out. Irvin will almost certainly be better than replacement level. If you’re intent on slapping a universal dollar figure on all players based on that, the Orioles almost can’t lose in this trade.
That’s not really how it works in real life, though. Teams don’t have a department that inputs projections, turns everything into some calculation of value measured by dollars, and then pursues trades and acquisitions based on the cold hard reality of that math and nothing else. The Irvin trade reflects this in a few ways, so let’s talk about them. Read the rest of this entry »






