To do this, a model was constructed that employed Operations Research techniques in order to value players. This holistic hedonic price modelling approach attempts to estimate the expected economic value creation from key quantitative variables of players.
1. Bid for Experience
Last year, KKR made headlines when they secured Glenn Maxwell and Rahmanullah Gurbaz at auctions to add pace bowling options. Furthermore, two spinners and top-order batsman were added as well.
However, their team appears to lack a reliable wicketkeeper and experienced opener, thus decreasing their odds of making the top four.
Teams use various methods to assess player values and predict their performances in IPL seasons, such as past season data, career performance records and their economic value creation ability for their franchise. Unfortunately, these models do not account for all possible variables or anomalies such as psychological law of averages or anomalous plays by particular players.
2. Bid for a Batsman
IPL auctions provide teams with a unique opportunity to fill their squad. Franchises enter these auctions with plans in mind for buying players that meet their specific needs and who fit best within their squad.
At an auction, teams have an allotted sum they can spend on players at auction. Depending on a player's base price, bidding wars could erupt between franchises for them.
Gujarat Titans will look to acquire both an overseas batsman and bowler after trading Lockie Ferguson. Furthermore, they must fill in for the departures of Jason Roy and Matthew Wade; therefore they may target players such as Cameron Green, Ben Stokes or Sam Curran from their 7.05 crore spending pool.
3. Bid for a Bowler
Success for franchises next year depends heavily on finding bowlers capable of performing at various phases of the game, like Dushmantha Chameera and Sam Curran, with IPL experience that could attract interest.
Reece Topley has won the hearts and minds of cricket fans everywhere with his performances in international cricket. The tall left-arm pacer boasts speeds in excess of 140kmph.
Rajasthan Royals aim to improve their batting options by recruiting an all-rounder, and might look for an experienced spinner as backup for Ravi Bishnoi.
4. Bid for a Spinner
Mumbai Indians appear short on spinnners after parting ways with Murugan Ashwin and Mayank Markande, though young spinners Kumar Karthik Shokeen and Hrithik Roshan remain. Although veteran Indian spinners such as Amit Mishra and Piyush Chawla may still join, chances are high they won't.
KKR have limited overseas batting options and require a pacer following the trading of Lockie Ferguson, so they may look toward Namibia all-rounder David Wiese - who impressed in the T20 World Cup as part of his country.
Our research has demonstrated that teams tend to pay a premium for iconic players who create economic value through ticket sales and marketing benefits, typically consistent with hedonic pricing models which predict that fans may overpay for their favourite player's performance.
5. Bid for a Young Batsman
As auction day in Kochi draws near, ten teams are finalizing their strategies and plans for success on auction day. Each has an INR 80 crore budget which they use to assemble a squad consisting of Indian players with caps as well as overseas ones.
KKR are seeking to acquire both young batsmen and spinners to bolster their experienced frontline bowlers, such as Mayank Agarwal or Namibia all-rounder David Wiese who excelled for his country at the 2022 T20 World Cup.
After parting ways with Bravo, CSK are eager to secure an all-rounder and could make an effort to sign England youngster Sam Curran, who won Player of the Tournament at T20 World Cup 2018.