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I was curious about how the Run Expectancy matrix might value all of this so I took a look at it. I used the 1950-1968 matrix (found here, thank you Tangotiger) because it seemed like the best option of those available.
Here are their respective rates per PA for each basic non-outmaking event. You can check that I did not err significantly by seeing that the totals more or less add up to the player's respective OBPs (I did not bother with sacrifices)
View attachment 121726
I ran each event through the Run Expectancy matrix and got the following values for them
View attachment 121725
If we plug these values in using the players' career event per PA rates we get a RE24 of 0.469 for Cepeda and 0.439 for McCovey. And this is without even subtracting the negative value of the outs (which Cepeda has more of). So McCovey in fact would appear to be a slightly superior choice in this situation if we are just trying to maximize runs.
It is more complicated to figure out which player would give our team a better chance of scoring the 4 (or more) runs that we "need" in the inning but I think that it is safe to conclude that McCovey would be the correct answer there as well even without the exact numbers.
Seemed a bit unfair and incorrect of me to count the negative value of the DPs but not include any other outs. With Ks and basic single outs included (I assumed that a run would score on any out made on a ball in play, this is probably about equally generous to both players) we now get 0.378 for McCovey and 0.371 for Cepeda. So McCovey still appears to be the better choice.
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