u/GuavaOverall

How do Austrian Economists deal with information frictions and asymmetric information?

The arguments that lemons lead to market collapse can be made without any mathematical prove and solely can be derived from logic in my opinion.

If and how did Austrians incorporate this in their theory?

EDIT: Updated after August 8th Hunters - Heights Game

The first week of the season is in the books! And so I made an updated Player Power Ranking featuring the Top 10 Players solely on available data. Below you also find a Top 10 Pitcher Power Ranking and the top 3 run contributors for each team.

RAA7: Runs that each player contributes more over a standard 7 Innings WPBL game in comparison to the average player. This includes both pitching and batting.
PitchRAA7: The same as above, but only considering pitching. WAA: This translates Runs Above Average to Wins above average over the season. It adds up over the season in comparison to RAA7. Best interpretation: How many additional wins was the total performance of a player worth in comparison to an average league player.

Current RAA7 Leaderboard (batting PA ≥ 40, pitching IP ≥ 15)

The power ranking is based on season performance but also considers past World Cup performance (How much weight the WPBL games get is the last column WPBL_WT). As a minimum of 40 PA or 15 IP across league and World Cup play is required, some less experienced players who did well are not ranked yet. This Leaderboard tries to incorporate as much information as possible. Therefore, Sato and Whitmore, who were arguably both having an off week going into the season, the World Cup data makes it so that they are still both in the top 10.

As batting dominates this leaderboard, I made a second one, solely for pitchers:

Current Pitching RAA7 Leaderboard (IP > 15)

Furthermore, I have a season board, removing the World Cup data, showing who the top 10 performing players are one week into the season so far:

Current Season WAA Leaderboard (season PA ≥ 2.4× team games, season IP ≥ 0.7× team games)

Having watched most of the games this week, I believe this list is very accurate. WAA is a cumulative stat that shows how many wins a player's performance has been approximately worth so far in comparison to an average league player.

Finally the top 3 contributors for each team:

Top 3 Season WAA Contributors by Team

Boston

Los Angeles

New York

San Francisco

Some notes on the methodology:
For young players, it will take a while until they appear on the Power Ranking (First Board) because 40 PA are a lot in a 15-game season. Over the span of the season, the season performance will gain more and more importance in comparison to the World Cup stats.
One valuable part of the game is very difficult to assess for me right now, due to limited data availability and fast-shifting positions: Defense. There is no positional adjustment at all, which likely results in some unfair comparisons. Right now, a Shortstop is expected to have the same offensive production as a first basewoman.

How do you feel about these leaderboards? Does the Power Ranking align with who you believe are the top 10 players in the league? Does the current season WAA leaderboard align with who you believe has had the best start so far? 😄

In the following, I present my first attempt to create a top 10 players list. The run environment is based on Mexico, USA, Canada, and Japan matchups at the Women's World Cup. The individual players' values are based solely on national team performance (including other teams) for now. Therefore, it is heavily biased towards more experienced players and North American players for now. I did not manage to incorporate stats from Japanese Leagues for this (yet). Due to the small sample size and it being impossible to identify playing time for defensive positions, any defensive value is left out.

I imposed a minimum of 40 PA for Batting Runs and 15 Innings Pitched for Pitching Runs. BatRAA is a cumulative stat for runs above average level; PitchingRAA is the pitching equivalent. RAA7 is then how many runs advantage that player gives you over a standard 7-inning WPBL game in comparison to a fictional average player.

Take this initial ranking with extreme caution; it is not adjusted for how good the opponent is, nor the effect of its own team; some stats are from 2013, some from 2026. Only half the players have World Cup stats at all. If anything, this should give you an idea of how the most established players have performed in comparison to each other at the highest stage so far.

A couple of (very obvious) observations: Denea Benites and Ashton Lansdell have been mind-blowing offensively over their national team career. They certainly are some of the most dangerous hitters in the league. Kelsie Whitmore is the only one who hit the threshold for both pitching and batting while performing on a really high level. Although Meggie Meidlinger has not thrown a lot of innings at her World Cup performances, every time she did, she completely controlled the game. Her Pitching Metric is so high because she has only one Walk vs 21 Strikeouts in her career. And lastly, Ayami Sato is a legend with good reason. Nobody comes close to her 70 innings and 63 Ks.

I am excited to see how the data will look in a week, when the many players who didn't have a chance yet to play on such a high level. I will update this with a couple of insights throughout the season :)

Tried my best to find some information on all the players and come up with a Lineup for my Firebells.

Approach was basically to look for experience and just some stats that is out there. The recent World Cup was likely the best data source.

If I couldn't find much information online I replied on the draft order and positions on WPBL because they have likely the best assessment and idea on how they would like the team to play out. Nevertheless, a lot has likely changed since the draft. I noticed some of the players that were drafted high that didn't appear at the World Cup for example.

So here it is:

1 Gianelloni CF

2 Whitmore P

3 Leblanc 1B

4 Albayati LF

5 Gutierrez C

6 Leguizamon SS

7 Kaplan RF

8 Yamamoto 3B

9 Park 2B

What I noticed in the process is a lack of listed Outfielders. A lot of them have extensive Experience at Short Stop. Rosi del Castillo who is listed at CF had a really good run at the World Cup as a Pitcher and I think she may use her primarily as a Starting Pitcher. On the contrary I put Albayati in Left Field because of her good track record at the bat and seeming to appear more in relief. She played Left Field in the World Cup, so I kept her there. Gianelloni went to the CF for me although she is listed at 2B and has played SS extensively in her College career. Thought behind that is to make space for their young infielders with less experience but which the Team has high regard for according to the draft. Catcher was also difficult. Seems like the Firebells have some really strong players at the position.

The hitting order is a bit random especially at the bottom. I believe your best hitter should hit second.

Really excited for the first game and follow my bells through the season 🔔🔔🔔

Feel free to post your ideas for your teams! 🥰