Critics say that economists know the price of everything and the value of nothing. But Paul M. Sommers, an economist at Vermont's Middlebury College who seems to know both, is arguing that baseball owners who have paid huge prices for free agents have got value for their money. Assistant Professor Sommers concluded this after studying the original 25 free agents of 1976. Included were Outfielder Reggie Jackson, Relief Pitcher Rollie Fingers and several stars hampered by injuries in the ensuing year. Sommers' key finding: the free agents more than earned their keep during the season that followed their signing....
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