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To use PEDs or not to use PEDs: a cost benefit analysis with math and everything

Jul 1, 2009, 11:04 AM EDT

Catherine Rampell of the New York Times’ “Economix” blog has a post up attempting to quantify the cost-benefit analysis that goes into a baseball player’s choice to use PEDs
or not and speculates about how the system can be re-jiggered so as to
further disincentivize drug use. Anyone who has thought about this
stuff for any length of time is aware of the general arguments even if
they haven’t done any of the actual math, but it’s probably worth a
read anyway. The best quote, though, is an aside about the assumptions
that go into her equations:

Now these numbers are obviously all made up (and no one gets signed
to $10 million deals off the street, I imagine). And players surely
care about things other than their paycheck — love of the game, fans,
Cooperstown, etc.

That sound you hear is Scott Boras firing off an angry letter to the
New York Times’ editor telling him just how wrong Ms. Rampell is about
all of those things.

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