The Winner's Curse

Paradoxes and Anomalies of Economic Life

Business & Finance
Cover of the book The Winner's Curse by Richard Thaler, Free Press
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Author: Richard Thaler ISBN: 9781451697872
Publisher: Free Press Publication: June 26, 2012
Imprint: Free Press Language: English
Author: Richard Thaler
ISBN: 9781451697872
Publisher: Free Press
Publication: June 26, 2012
Imprint: Free Press
Language: English

Winner of the Nobel Memorial Prize in Economic Sciences

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Winner of the Nobel Memorial Prize in Economic Sciences

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.

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