Economics & Finance

The Winner's Curse: Paradoxes and Anomalies of Economic Life

Paperback

Price:
$23.95 / £20.00
ISBN:
Published:
01/30/1994
Copyright:
1994
Pages:
240
Size:
6 x 9.25 in.
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In this book, Nobel Prize–winning economist 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.

An ebook edition is available from The Free Press at leading on-line booksellers.


Awards and Recognition

  • Richard H. Thaler, Winner of the 2017 Nobel Prize in Economics