I would love to have Encarnacion, but I think it would be a big mistake to sign him to a large contract.
No one can replace Papi, not only in terms of his production, but also in terms of what he means to this team and to the young players. IMO, the Sox should not be trying to replace him, but rather trying to upgrade the team wherever they reasonably can.
Our offense has currently scored 84 more runs than the next closest AL team. Even with a net loss in production from losing Papi, the offense should be one of the best next season.