For those of you into pro football, tonight may be as much fun as the Super Bowl, but without the expensive commercials. Yes, it's the opening round of this year's NFL draft.
Today's issue of The Wall Street Journal has two engaging articles. This first one is about how the NFL draft drives economists crazy. Talk about a pricing system that really doesn't work... And there's a graphic that lays out an alternative auction system. As the article indicates, it incorporates a little game theory. It's fun.
The second article is actually just a chart with an explanation. It compares salaries of 10 first round picks with the salaries of major corporate executives. I find it interesting that people get upset with the salaries paid to people in corporate America, but don't seem to mind the fact that rookie players, many of whom don't make it past their first year, get paid more.
I think it goes back to what we choose to value. To what extent do salaries reflect what we truly value? I'll leave the question with you.