Yesterday, my colleague over at Crawfish Boxes, David Coleman, posted his “Three Astros Things.”

One of the Astros things was actually a Rangers thing:

They lost out on Zach [sic] Greinke. They lost out on James Shields. What’s left for the Rangers?

Well, it appears our enemies to the north will try to load up on every other player they can. There’s talk that they may re-sign Josh Hamilton. There’s talk they may push through the Justin Upton trade. They may go after Michael Bourn, Anibal Sanchez, or any number of other players.

But, what if they don’t get anything? How much will the Rangers be hurt if they stand pat? It almost seems like they may be better off not making these moves. They need to replace Josh Hamilton’s offense, but adding Mike Olt may replace some of that offense, right?

Plus, they’d lose draft picks if they have to sign too many big-ticket free agents, which hurts the team down the road. In an Upton trade, they also would have to give up either Andrus or Profar.

I guess the question is are the Rangers good enough to contend without making a splashy move or can they still win the AL West with the team they have now?

My response will be longer than I’d feel comfortable posting in their comments section, so allow me to devote my own article to answering his article.

The usual caveats apply here – since I’ll be spending a lot of energy talking about WAR. WAR is a nice tool, but it’s not the only tool, and it’s certainly not the best predictive tool. But it does put us in the ballpark of a player’s value, so I’ll be using it as a catch-all throughout this article.

I think that, to answer this question, you first have to answer three other questions. Namely:

1. Were the 2012 Oakland Athletics a fluke?

It’s impossible to talk about the Rangers winning or losing the AL West without considering the team that did win the AL West in 2012, the Oakland Athletics. The Athletics seemed to overcome all odds in winning their division, despite having the second-lowest Opening Day payroll in all of baseball. They were built on youth without long major league track records: Yoenis Cespedes, Josh Donaldson, Chris Carter, Derek Norris, and Collin Cowgill were all rookie position players who were worth more than replacement value. Jarrod Parker, Tommy Milone, Ryan Cook, Sean Doolittle, A.J. Griffin, Travis Blackley, Evan Scribner, and Jordan Norberto were all rookie pitchers who did the same.

Pythagoras only put the 2012 Athletics two wins behind their actual performance. Then again, the Rangers only finished one game behind the Athletics in 2012, so I think it’s safe to call that a toss-up. For all intents and purposes, the Rangers and Athletics were equally good in 2012. You could point at any of a number of reasons why the A’s may have a sophomore slump in 2013, or why an additional year of playing together – with postseason experience – could make them play even better. Obviously, it could go either way. But there’s no compelling reason, at this time, to assume that Oakland won’t be in the mix in September and October 2013.

One problem with a young team is trying to define regression to the mean, since they are currently in the process of establishing the mean. As a result, I have no reason to think that the 2013 Athletics will be significantly worse than the 2012 Athletics.

Additionally, the Angels and Mariners could easily improve next season, putting added pressure on Texas to make a move. Or so it would seem.

2. What have the Rangers lost since 2012, and can they replace it?

Since the end of the 2012 season, Texas has lost 11 players with relevant (read: within the last three seasons) Major League experience, and they’ve gained 11 players with relevant Major League experience.

Using a 5/3/2 regression on incoming players, and 2012 rates for outgoing players:

Between Feldman, Napoli, Hamilton, Dempster, and Adams, the Rangers have lost a significant amount to Free Agency this winter. The Geovany Soto “gain” is actually a wash, as Soto was also on the roster in 2012. All told, the Rangers have lost approximately 12 wins from 2012. Prospects, such as Mike Olt, Jurickson Profar, and Leonys Martin, might make up some of the difference, but it’s unlikely they’ll make up all of it. Sure, Mike Trout had 10.0 WAR in his second rookie season of 2012, but counting on 13 wins from a trio of rookies isn’t the best idea in the world.

I would pencil the trio in for somewhere between 4-8 WAR in 2013. We’ll split the difference and call it 6.0. That leaves the Rangers with a 7-win differential from 2012, and an 8-win differential from the 2012 Athletics.

3. What, exactly, constitutes a “flashy signing”?

8 wins is a lot. 8 wins is Buster Posey. Heck, James Shields and Zack Greinke combined would be just over 9 wins. Re-signing Josh Hamilton would eliminate the loss of just 4 wins, and it seems to me that re-signing Hamilton might be a losing proposition. Not only did the Rangers make it clear that Greinke was Option 1 over Hamilton, but they also seem to have downplayed his contributions to an extreme. If I was Josh Hamilton (and let’s make it very clear here that I am not Josh Hamilton), I would look for a payday elsewhere.

But what’s interesting is that re-signing Ryan Dempster would bring the Rangers almost as close as re-signing Hamilton would. Of course, if Dempster’s agent is to be believed, Dempster would rather go to an NL team with Spring Training in Arizona (that’s the Diamondbacks, Cubs, Reds, Rockies, Dodgers, Brewers, Padres, and Giants, incidentally).

Dempster might not be as flashy as Hamilton, but he brings you almost as close to making up the win-differential from 2012 to 2013. After that, it’s a matter of “finding” around 5 wins. Now we’re in Michael Bourn/Justin Upton territory. But, heck, now we’re in Jimmy Rollins territory, too. Or Miguel Montero territory. It’s a lot easier to find 5 wins than it is to try and land one big free agent who can bridge the gap by themselves.

In short, I think a couple of non-flashy signings might benefit the Rangers at least as much as a big signing would. Anibal Sanchez has never been worth as many as 4.5 wins. Michael Bourn is coming off a personal-best 6.4, but he has a skillset that deteriorates with age.

I think a flashy signing might look nice to the fans in Arlington, but I have no reason to think that it’s the best thing the Rangers could do to stay competitive. They’d almost be better off letting the prospects play and trying to catch lightning in a bottle the way Oakland did in 2012.

Of course, there’s a reason why Oakland is Oakland, and why Texas is Texas. And I’d certainly never say that a team who has appeared in back-to-back World Series recently has any sort of a flawed method. But I do have to think that rushing out and signing a free agent just to sign a free agent isn’t the best thing the Rangers could do for themselves right now.