Evaluating Our Free Agent Contract Predictions

As I write this, I’m watching a spring training game on my other monitor, which is a good reminder that another season of baseball will soon begin. Forty-eight of the Top 50 free agents of the winter have signed, with Zack Littell and Lucas Giolito the lone holdouts. That means it’s time for my annual review of contract predictions, mostly mine and the crowd’s.
I like to evaluate my own predictions so that I can get better at making them in the future. I like to evaluate your crowdsourced predictions because it’s fun, and because everyone likes hearing how smart they are. Our crowdsourced predictions have been consistently excellent, arguably better than any industry expert, and that makes displaying them particularly enjoyable.
To evaluate our accuracy, I broke the signings down into three categories: hitters, starting pitchers, and relievers. I also examined the entire Top 50, without positional separation. I used a formula that I discussed earlier this winter as my chief metric of accuracy, but I also checked how close we came on average annual value, total guarantee, and number of years. I looked at how the predictions matched the overall amount of money spent in the market, and also considered how close each individual prediction came. That way, I was able to evaluate two things: Who did the best job predicting the broad market, and who predicted what each free agent would get with the greatest accuracy. Read the rest of this entry »






