Selecting Players: The Free Agent Auction
fantasy football leagues begin with fantasy owners selecting
one NFL player at a time (according to a predetermined draft
order) until all team rosters are full. In the EconFantasy.com
simulation, the commissioner conducts a free agent auction to
distribute the players. Before the auction all of the student
franchise owners are required to finish their business plans,
so every franchise has a budget limit for player salaries.
All Fantasy teams must have the following number of contracted players on their roster:
- 2 Quarterbacks - 1 starts each week
- 4 Running Backs - 2 start each week
- 4 Receivers - 2 start each week
- 2 Kickers - 1 starts each week
- 2 Teams (Special Teams and Defense) - 1 starts each week
will take a considerable amount of time (at least four hours),
and it should occur as an "outside of class time" session.
A pizza party is a nice way to motivate students. Even though
the exercise entails a sacrifice of students' time, it is usually
regarded as the students' favorite exercise in the entire simulation.
take turns placing an NFL player "on the block" by announcing
an initial bid for the player. Every team then has an opportunity
to sign a contract with the player by being the highest bidder.
At this stage, the contracts are simple - the contracts are guaranteed,
there are no injury contingencies, and there are no bonuses. Some
NFL players may be assigned minimum contract requirements (or
they refuse to play), and teams may be advised of these minimum
contracts prior to the auction. The auction continues until all
owners field their teams.
is an excellent tool by which to discuss collusion in auctions,
the winner's curse, the immense size of player salaries (since
free agency's inception), and bidding strategies.
Once the auction
ends, the commissioner will enter each franchise's total payroll