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- Product code: 10718
- ISBN: 0691019347,
ISBN13: 9780691019345,
230 pages, paperback
Published by Princeton University Press, 1st edition, 1992
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Description of The Winner's Curse |
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.
He also demonstrates that markets do not always operate with the trap like efficiency we impute to them.
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Contents of The Winner's Curse |
1. Introduction
2. Cupertino
3. The Ultimate Game
4. Inter industry Wage Differentials
5. The Winner's Curse
6. The Endowment Effect, Loss Aversion, and Status Quo Bias with Daniel Kahnemand and Jack L. Knetsch
7. Preference Reversals
8. Inter temporal Choice
9. Savings, Fungibility, and Mental Accounts
10. Pari-mutuel Betting Markets with William T. Ziemba
11. Calendar Effects in the Stock Market
12. A Mean Reverting Walk Down Wall Street with Werner F.M. De Bondt
13. Closed-End Mutual Funds with Charles M.C Lee and Andrei Shleifer
14. Foreign Exchange with Ken A. Froot
15. Epilogue
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