Player prices were originally set by taking the average values of players across all ottoneu Points leagues. Every Sunday at 10pm ET these prices are adjusted based on the usage rate for the past week. The formula for the adjustment is:
(PlayerUsageRate / AverageUsageRate(PlayerPosition)) - 1;
The price is then rounded to the nearest quarter. To give an example, here is the price over time for Jose Bautista:
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