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  The Winner's Curse: Paradoxes and Anomalies of Economic Life (Paperback) By (author) Richard H. Thaler

  

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  Short Description for The Winner's CurseChallenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. The author presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers - they pay too much and suffer the "winner's curse".
  Full description

  • Publisher: Princeton University Press
  • Published: 10 January 1994
  • Format: Paperback 240 pages
  • See: Full bibliographic data
  • Categories: Economic Theory & Philosophy
  • ISBN 13: 9780691019345 ISBN 10: 0691019347
  • Sales rank: 340,425

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Full description for The Winner's Curse

• Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers - they pay too much and suffer the "winner's curse" - why gamblers bet on long shots at the end of a losing day, why shoppers will save on one appliance only to pass up the identical savings on another, and why sports fans who wouldn't pay more than $200 for a Super Bowl ticket wouldn't sell one they own for less than $400. He also demonstrates that markets do not always operate with the traplike efficiency we impute to them.