The Winner`s Curse – Paradoxes and Anomalies of Economic Life - Softcover

Thaler, Richard H.

Softcover

ISBN 10: 0691019347 ISBN 13: 9780691019345

Publisher: Princeton University Press, 1994

Synopsis

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.

About this title

Review:

"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

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

About the Author:

Richard H. Thaler, the winner of the 2017 Nobel Prize in economics, is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business.

About this edition

• Publisher: Princeton University Press
• Publication date: 1994
• ISBN 10: 0691019347
• ISBN 13: 9780691019345
• Binding: Paperback
• Number of pages: 240