The Business of Fantasy Hockey Part IV – The Power of Influence

Jeff Angus

2010-09-14

BFH

The first three parts the Business of Fantasy Hockey series focused on engaging in a passive analysis of fantasy hockey leagues, the concept of market value, and how to properly value player intrinsically. Part IV, we’re going to explain how you can actively manipulate the market price of players for trading and drafting (or any other way you can improve your club).

 

Today’s Topic: The Power of Influence


Part I – Value Investing

Part II – Instrinsic Value

Part III – The Psychology of Crowds

The discussion for this column will be focused on psychology and the major referenced source is a phenomenal book titled "Influence: The Psychology of Persuasion" by Robert Cialdini. Both Mike and myself have read this book numerous times, and it is a valuable tool for anyone who interacts with people on a daily basis (which is essentially everyone).

In fantasy hockey, many times you may find yourself overwhelmed with information and struggling to compare or value certain players. The first three parts of this series of our series suggested ideas on how to minimize this problem or issue, and it is one faced by almost all poolies.

In Cialdini’s book, he makes the argument that when humans are faced with too much information, they often fall back on certain pre-programmed responses. These responses develop because they provide a way to react to tough situations and make decisions with limited time to work with. In many situations the responses are beneficial, but Cialdini explains that marketers constantly exploit these pre-programmed reactions and use them against us.

When it comes to making a trade in fantasy hockey, you must assume the part-time role of marketer. You need to convince your fellow poolies that you possess the assets to improve their team. This is easier said than done, as most will be skep