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The winner's curse : paradoxes and anomalies of economic life

Author: Richard H Thaler
Publisher: Princeton, N.J. : Princeton University Press, ©1992
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
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  Read more...
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Genre/Form: Miscellanea
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Richard H Thaler
ISBN: 0691019347 9780691019345
OCLC Number: 28377102
Notes: Originally published: New York : Free Press, ©1992.
Awards: Winner of 2017 Nobel Prize in Economics 2017
Description: ix, 230 pages : illustrations ; 24 cm
Contents: Cooperation / with Robyn M. Dawes --
The ultimatum game --
Interindustry wage differentials --
The winner's curse --
The endowment effect, loss aversion, and status quo bias / with Daniel Kahneman and Jack L. Knetsch --
Preference reversals / with Amos Tversky --
Intertemporal choice / with George Loewenstein --
Savings, fungibility, and mental accounts --
Pari-mutuel betting markets / with William T. Ziemba --
Calendar effects in the stock market --
A mean reverting walk down Wall Street / with Werner F.M. De Bondt --
Closed-end mutual funds / with Charles M.C. Lee and Andrei Shleifer --
Foreign exchange / with Ken A. Froot.
Responsibility: Richard H. Thaler.
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Abstract:

Challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. The author presents literate, challenging, and often  Read more...

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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, Read more...

 
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