PRICING OF PLAYERS IN THE

INDIAN PREMIER LEAGUE

Dheeraj Kumar
A. Sanjeev Rao
Mohane Yatin Balkrishna
Sarang Prakash Warudkar

1211180
1211161
1211199
1211219

Variables
Dependent Variable :Sold Price
Independent Variables considered:
Age, Runs scored, Runs conceded, Highest score, Batting
average, Bowling average, Batting strike rate, Bowling
strike rate, Number of Sixers hit in IPL, Wickets taken in
IPL, Economy rate in IPL, Captaincy experience, ODI
batting strike rate, ODI bowling strike rate, ODI runs
scored, ODI wickets taken, ODI runs scored, ODI
wickets taken, Test runs scored, Test wickets taken,
Player skill (batsmen, bowler or all-rounder), Country
of player and year of IPL auction.

Dummy Variables
Dummy Variable:
To include the impact of certain predictors in the
model, we have introduced dummy variables as
follows:
Predictor
Dummy Variable
Age below 25
Age 1
Age between 25 & 35
Age 2
Transfer history of player
Transfer
Domestic & International players Indian

Division of dataset
ROLE: Batsman
Bowler
All-rounder
Wicket-keeper
Reason:This is because the effect of a variable, say the number
of sixes hit by the player on his price will be different if
he is a batsman from what it will be if he is a bowler.

4 Different Regression Model

Hence, 4 different regression models have
been built, one each for batsman, bowler, allrounder and wicketkeeper category, each
trying to estimate the specific effects of the
explanatory variables given on various player
categories.

Model for Bowlers

Ln (Sold Price) = 4.746 + 0.11 Wickets + 0.637
Ln (Base Price) + 0.632 Age Category 1

Bowler Model Summary

Continues..

Continues..

Model Acceptance
The F value is 11.879 which is represented by
P value of ~0%, indicating that the model will
be approved even at 99% confidence.
T value of the significant variables is high and
low P values, again indicating that the model
will be accepted at high confidence levels.
The Variance Inflation Factor is less than for
the significant variables

Outliers
The outliers in the above data were Abdur
Razzak, Kamran Khan & Mithun A. The outliers
were identified on the basis of Mahalanobis
values being greater than 10 and eliminated
before running the final regression model.

Normal P-P Plot of Regression

Scatter Plot

 The Normal P-P plot reveals the actual data is

closely packed around the regression line as
per the model
The residual values when plotted on the
scatter plot do not reveal any pattern, thereby
indicating absence of heteroscedasticity.

Summary
Batsmen:
log(sold price) = 4.69 + 0.787*Ln(base price) -1.019* -0.927*Age
Category 2 - 0.598*Age-Category3
Bowlers:
Ln (Sold Price) = 4.746 + 0.11 Wickets + 0.637 Ln (Base Price) +
0.632 Age Category 1 (Young)

All-rounders:
Ln (Sold Price) = -1.202 + 1.145 Ln(Base Price) + 0.656 Indian Player
+ 0.000 Runs Scored
Wicketkeepers:
Ln (Sold Price) = .322 + 0.982 Ln (Base Price) +.001 (RUNS Scored)