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 ...

The Winner's Curse: Paradoxes and Anomalies of Economic Life 1994, Princeton University Press, Princeton, NJ

ISBN-13: 9780691019345

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The Winner's Curse: Paradoxes and Anomalies of Economic Life 1991, Free Press

ISBN-13: 9780029324653

Hardcover

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