The Winner's Curse: Paradoxes And Anomalies Of Economic Life

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Synopsis

Winner of the Nobel Memorial Prize in Economic Sciences

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.

Chapters

  • WinnersCurse 01 Open

    Duration: 23s
  • WinnersCurse 02 Ch1

    Duration: 12min
  • WinnersCurse 03 Ch2

    Duration: 37min
  • WinnersCurse 04 Ch3

    Duration: 35min
  • WinnersCurse 05 Ch4

    Duration: 35min
  • WinnersCurse 06 Ch5

    Duration: 31min
  • WinnersCurse 07 Ch6

    Duration: 34min
  • WinnersCurse 08 Ch7

    Duration: 32min
  • WinnersCurse 09 Ch8

    Duration: 31min
  • WinnersCurse 10 Ch9

    Duration: 32min
  • WinnersCurse 11 Ch10

    Duration: 39min
  • WinnersCurse 12 Ch11

    Duration: 30min
  • WinnersCurse 13 Ch12

    Duration: 40min
  • WinnersCurse 14 Ch13

    Duration: 35min
  • WinnersCurse 15 Ch14

    Duration: 34min
  • WinnersCurse 16 Ch15

    Duration: 03min
  • WinnersCurse 17 Close

    Duration: 23s