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Richard Thaler: The NFL Draft Is Basically Random

May 01, 2026 / 01:11

This episode discusses player draft statistics, focusing on the "better than the next guy" stat, AI in player evaluation, and the consistency of prediction accuracy.

The hosts explain that the original statistic indicated a 52% probability that an earlier drafted player is better than the next, which has only slightly improved to 53% with advancements in AI and analytics.

They highlight that even in the first round, the probability is just 58%, showing that teams have not significantly improved their ability to predict player success.

This conversation emphasizes the ongoing challenges in player evaluation despite technological advancements.

TLDR

Draft predictions remain largely unchanged despite AI advancements.

Episode

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

Episode Highlights

  • The Better Than Stat
    A statistical approach to comparing players drafted consecutively, revealing surprising results.
    “The answer to that question was 52%.”
    @ 00m 28s
    May 01, 2026
  • Predictive Stats Unchanged
    Despite advancements, the predictive accuracy of player performance remains largely the same.
    “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
  • Surprising Stats00:28
  • Predictive Accuracy01:01