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Originally Posted by dumbrabbit
Okay let me get this straight: ERA determines pitcher's earned run average, while FIP helps determine whether he has a good/bad defense, right?
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ERA is a measure of what actually happened. It's how many runs the pitcher as given up (without errors being the deciding factor in the scoring) per 9 IP.
FIP is also a measure of what actually happened. However, it only looks at the pitcher's BB, K, and HR allowed. Other factors such as fielding, BABIP, or the sequencing of events (such as whether all the hits came in bunches or were spread out) aren't included.
Basically if you want to know who's given up fewer runs in the past then ERA will tell you that. If you want to know who is most likely to give up fewer runs in the future then look to FIP.