Wtf is going on here?
RJF - You're awful, even for an aspiring economist. A closed, tightly regulated system like MLB is about the one area where your illegitimate education should help you. Others in your field get it and have contributed to the knowledge here. Educate yourself and read some Matt Swartz posts on The Book Blog. Otherwise shut the f*** up.
The market pays for wins. What goes in to projecting a win varies team to team. How much a team should pay for a win varies as well based on other factors (roster constraints, win curve, budget being the 3 dominant ones).
(Side note: If anyone wants to see a book-length version of BTS's infamous "I ran a regression" thread, you should read Greenspan's "The Map and the Territory". It's utterly terrifying that that man was in the position he was.)