We already know that the 2013-14 free agent market has featured incredible spending levels, but what does that mean for how teams value a win (above replacement)? Dave Cameron of Fangraphs breaks down the cost of a projected win for each player that signed a major league deal. The results show that teams have spent at levels that, depending upon what discount rate and precise methodology is employed, value an expected win at between $5MM and $7MM. In a follow-up piece, Cameron observes that, at least for players who are expected to be regular contributors, the spending shows a non-linear...

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