Academic Take on Moneyball

Hardball Times links to Sabernomics links to An Economic Evaluation of the Moneyball Hypothesis.

Our work is essentially an assessment of Lewis' [Moneyball] argument, and as such is merely an after-the-fact replication of work done by the innovators at the heart of his book. But we do find that they (and Lewis) were right, and further, that the process that they set in motion had in large part been completed by the time the book was published.

Essentially, the inefficiency in the market that allowed the A's to compete has been corrected, and the A's have had to move on to new (possibly smaller) inefficiencies, or so we A's fans can hope.