Drafts versus Auctions in the Indian Premier League
نویسنده
چکیده
This paper examines the 2008 player auction used in the Indian Premier League (IPL). An argument is made that the auction was less than satisfactory and that future auctions be replaced by a draft where player salaries are determined by draft order. The salaries correspond to quantiles of a three-parameter lognormal distribution whose parameters are set according to team payroll constraints. The draft procedure is explored in the context of the IPL auction and in various sports including basketball, highland dance, golf, tennis, car racing and distance running.
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