Niranjan Rajadhyaksha and Ravi Krishnan analyse the IPL auction from an economic and strategic standpoint in Mint. They observe franchises have shifted from looking for marquee players, like they did in the first IPL auction three years ago, to building a balanced portfolio of players.

There was a clear preference for a more balanced portfolio this year. A strong second rung is always needed in case of injuries or bad form from the stars. So while the bidding for the stars always attracts the most media attention, the strategic actions taken to build the entire team is not always adequately appreciated. IPL team owners have clearly shifted their preference from highly skewed to more balanced player portfolios. These strategic dilemmas are a bit similar to what a mutual fund manager grapples with when designing his equity portfolio.

Dustin Silgardo is a former sub-editor at ESPNcricinfo