Book Categories

Description of The Winner′s Curse – Paradoxes & Anomalies of Economic Life

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.

Title Information

ISBN:

9780691019345

Pages:

240 pages

Format:

Paperback

Product Code:

10718

Publisher:

Princeton University Press

Published:

13/04/1994

Edition:

Reprinted edition

Press and Industry Reviews

'Every now and then an economist writes a book that is both interesting and entertaining. Richard Thaler has done just that in The Winner's Curse.'
- Stanley W Angrist, Wall Street Journal

Write a review of this book

Customer Reviews from Amazon

Contents of The Winner′s Curse – Paradoxes & Anomalies of Economic Life

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