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

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9780029324653: The Winner's Curse: Paradoxes and Anomalies of Economic Life

The rationale of economics has come to dominate political and institutional life in recent years. However, many economic assumptions have received only scant study. This book examines the many anomalies that abound in even simple economic transactions.

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"By unraveling a series of real-world puzzles with philosophical and practical implications, Thaler illuminates some fairly abstruse ideas in an entertaining way.... The best minds in economics today, as Thaler's provocative book suggests, are trying to supplement [insights into markets and prices] with a broader understanding of what makes people tick." --Christopher Farrell, Business Week

"Richard Thaler ... stylishly recounts empirical findings that skewer hitherto sheltered economic beliefs." --Lola L. Lopes, Contemporary Psychology

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Thaler, Richard
Published by Free Press (1991)
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