You can read the full explanation in Hollinger's
PER Diem, but I'll try to quickly sum it up. First, VORP is used in baseball and stands for Value Over Replacement Player, but Hollinger is using Value Added for his basketball version. Essentially, he devised a method to eliminate PER's minutes played (or lack thereof)bias by taking a player's PER and subtracting the PER of a replacement player for that position and multiplying it by minutes played. Then he can find how many points that player is worth to his team over a replacement player. It looks like this...
VA = ((Minutes * (PER -- Position Replacement Level)) / 67)
Now that's a pretty crude explanation, so if you want to see the math, refer to his article.
Here is where we stand...

Hmm, that's a tiny graph. Anyway, LeBron is crushing the field and is the clear MVP. By the way, EWA stands for Estimated Wins Added and LeBron is worth 9 more wins to his team than Kobe is to the Lakers. That is a huge amount in an 82 game season.
In conclusion,
math can be fun LeBron is the MVP.
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