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Richard Thaler: The NFL Draft Is Basically Random

May 01, 2026 / 01:11

This episode discusses player drafting statistics, focusing on the "better than the next guy" metric, which compares players drafted consecutively at the same position.

The hosts explain that the probability of the earlier drafted player being better than the later one is 52% overall, with a slight increase to 53% in recent years.

They highlight that even with advancements in stats, the combine, and AI, predictions for player success have not significantly improved.

First-round players show a slightly higher probability of success at 58%, indicating that drafting remains an uncertain process.

TL;DR

Player drafting success rates have not improved significantly despite advancements in stats and technology.

Episode

1:11
00:00:00
Our favorite stat from the original
00:00:02
paper was one we called the better than
00:00:05
the next guy stat, which is take any two
00:00:09
players who play the same position, who
00:00:12
are drafted one after the other. So, the
00:00:15
third running back compared to the
00:00:17
fourth. And we say, "What's the
00:00:19
probability that the earlier player is
00:00:22
better than the next one?"
00:00:24
And in the original paper, the answer to
00:00:26
that question was
00:00:28
52%.
00:00:29
Now, if they're perfect, it's 100.
00:00:32
If they're random, it's 50. It's a
00:00:34
little higher in the first round. And
00:00:37
so, that was the first question is,
00:00:39
"Well, now we've got stats and the
00:00:42
combine and AI and who knows? Maybe
00:00:47
they've gotten a lot better at this."
00:00:49
And the answer is they haven't.
00:00:52
That number's now 53%.
00:00:55
First round, 58%.
00:00:58
So, they've not all of a sudden mastered
00:01:01
the art
00:01:03
of predicting who's going to be good.

Episode Highlights

  • The Better Than Stat
    The original paper revealed a surprising 52% probability that an earlier drafted player is better than the next. Now, it's only slightly improved to 53%.
    “What's the probability that the earlier player is better than the next one?”
    @ 00m 17s
    May 01, 2026
  • Predictive Mastery
    Despite advancements in stats and AI, the ability to predict player success remains limited.
    “They haven't mastered the art of predicting who's going to be good.”
    @ 01m 01s
    May 01, 2026

Episode Quotes

  • What's the probability that the earlier player is better than the next one?
    Richard Thaler: The NFL Draft Is Basically Random
  • They haven't mastered the art of predicting who's going to be good.
    Richard Thaler: The NFL Draft Is Basically Random

Key Moments

  • Better Than Stat00:02
  • Probability Insights00:19
  • Predictive Limitations01:01

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