Some thoughts on a Byron Buxton contract extension

Today we're using comps to think like an economist.

I set out today to find contract comparisons for Byron Buxton, should the Twins continue their considerable effort to get their best player signed on for the long term. 

Derek Falvey is an economist. And since it will ultimately be his decision where this thing goes -- at which point he’ll recommend to ownership the course of action and get a thumbs up or thumbs down -- it should pay here to think in terms of markets. It’s one thing to write down all the stats, appeal to your emotion, and then make the case for what the Twins should do. 

It’s quite another to try to discern what they will do. 

This column presents my latest thinking on the matter. 

Before I start diving into a list of comparable players, I feel compelled to spell out a couple of points. 

The reason that I bring up Falvey’s economics bent or markets in general is that often the best-run teams have to think of everything in terms of opportunity cost. At least, the ones who don’t have seemingly unending financial resources (i…