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Jason Schmidt Update
Written by wrigleyville   
Thursday, 30 November 2006
Meanwhile, Jim Hendry confirmed that the Cubs have talked to Jason Schmidt's "people," but have yet to make an offer: “I’ve had some dialogue with his people but at this point I have not,” he said. What is the advantage of waiting to sign pitching at this point? Will the cost of quality pitching not go up as fewer and fewer pitchers are available? Or will fewer suitors mean less demand for those pitchers still standing? Economics is hard. UPDATE: Here's a useful answer from Acragas on ESPN.com's Cubs message board, though it doesn't fully answer my supply and demand question: "The waiting's probably not the fault of the GMs. I'm sure they would love to have things locked up ASAP. The agents of the pitchers have incentive to wait as well - no one wants to be the first to sign, as the he ends up being the one to set the market. Essentially, you wait and hope that someone else signs an absurdly large contract, which immediatly inflates the value of your guy. Now that we have Adam Eaton's contract signed, the dominoes should begin falling, and we'll see some more deals announced in succession."

We need an economist - or at least an economics major - to stop by.

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