Almost everyone uses their own baselines for the number of players to include to determine the VBD for each position based on # teams, # starting and roster spots, etc. But, in your opinion which total is better to use as the baseline?
1. The last baseline player (i.e. player 1 - player 12; player 2 - player 12; player 3 - player 12, etc.)
2. The average of all players in the baseline (i.e. player 1 - average of players 1-12; player 2 - average of players 1-12, etc.)
3. Some other baseline?
What are your thoughts on which you use and why? What have you noticed about the effect on different positions?
I think using average of players at the position is much better, though most don't use it. Maybe the biggest issue is you end up with negative numbers, which isn't a problem in making a cheat sheet. But it is a problem if you're doing auction values. You'd need to normalize the final VBD values back to positive numbers.
Here's why I think it's better. Imagine these two sets of projections for a 6 team league (to keep the example short):
QB1 400 400
QB2 390 395
QB3 380 395
QB4 370 395
QB5 360 395
QB6 350 350
If we use QB6 as a baseline, then in both leagues QB1 has a value of 50. However, it should be obvious that QB1 in the first league is a bigger value than in the second. If you compare team by team, QB1 in the first league is an improvement of 10, 20, 30, 40 and 50 points. That's 150 points total.
The Qb in the last league is four times a 5 point improvement and once a 50 point improvement over your opponents. That's 70 points of improvement. Obviously there's a disparity here. The way in which the scoring at a position drops off contributes to the value of the players, and a 'normal' baseline method doesn't include that. (Much later edit: It isn't the method for the baseline really, it's the method we calculate the value that is at the heart of it.)
An average baseline would take that into account. The first case QB2-QB5 average 370, so 400-370 = 30 VBD for QB1 in the first projections. The second set they average 386 so 400 - 386 = 14. That result is a lot more representative of their true value to your team.
Obviously I contrived an extreme example to make it obvious. But the same issues would happen in a normal set of projections. Not all positions fall off at the same rate, and even the same position doesn't fall off the same each year, and that is lost in a normal baseline method.