The Winner's Curse
Paradoxes and Anomalies of Economic Life
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 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".
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.