The most valuable player (MVP) of an athletic league is the single best individual player in the league. The MVP award is the institutional recognition of this person, and it is the highest annual award that a player can receive. Despite its widespread consideration and importance, we argue that the concept of the MVP is a fundamentally vague concept. In the context of professional sports, however, such a vague category is valuable in that it promotes the active discussion of different (...) types of excellence found within a specific sport and the weight to be assigned these types, thus leading to a gain for the discussants. (shrink)

In this essay, I argue for the claim that the MVP is the player who provides the greatest net benefit to his team. I then argued for the following model of a player’s net benefit to her team. (1) A person’s, X’s, net benefit to the team is a function of the difference in team success when X plays and when her actual or likely backup plays. I argued that this model best satisfies our intuitions, measures actual value rather than (...) expected value, does not depend on arbitrary assumptions, and tends to track the way in which a team would economically value a player. The two do not align exactly, since economic valuation is future looking and net benefit is backward looking. Leaving aside concerns about player-related contribution, this model provides a right answer to the question of who is a league’s MVP. It also captures the comparative value of players within a team. (shrink)