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Title details for The Winner's Curse by Richard H. Thaler - Available

The Winner's Curse

by Richard H. Thaler
Arthur Morey
Audiobook
Listen to a sample Listen to a sample
Winner of the Nobel Memorial Prize in Economic Sciences
While the rationale behind economics always seems to be at the forefront of political and institutional life, many economic theories in relation to consumer behavior have not been studied in detail. Here, in The Winner's Curse, Richard Thaler challenges today's accepted economic wisdom by revealing many of the anomalies that abound even in simple economic transactions. He presents literate, challenging, and often funny examples of such variances 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.

Thaler argues that recognizing these sometimes counterintuitive facts of economic behavior will compel economists to adopt a more balanced view of human nature, one reflected in Adam Smith's belief that, despite our selfishness, there is something in our nature that prompts us to enjoy, even promote, the happiness of others.
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Publisher: Simon & Schuster Audio Edition: Unabridged

OverDrive Listen audiobook

  • ISBN: 9781508256861
  • File size: 224607 KB
  • Release date: March 7, 2018
  • Duration: 07:47:55

MP3 audiobook

  • ISBN: 9781508256861
  • File size: 224629 KB
  • Release date: March 7, 2018
  • Duration: 07:50:54
  • Number of parts: 7

Formats

OverDrive Listen audiobook
MP3 audiobook

subjects

Business Nonfiction

Languages

English

Winner of the Nobel Memorial Prize in Economic Sciences
While the rationale behind economics always seems to be at the forefront of political and institutional life, many economic theories in relation to consumer behavior have not been studied in detail. Here, in The Winner's Curse, Richard Thaler challenges today's accepted economic wisdom by revealing many of the anomalies that abound even in simple economic transactions. He presents literate, challenging, and often funny examples of such variances 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.

Thaler argues that recognizing these sometimes counterintuitive facts of economic behavior will compel economists to adopt a more balanced view of human nature, one reflected in Adam Smith's belief that, despite our selfishness, there is something in our nature that prompts us to enjoy, even promote, the happiness of others.
Expand title description text
Business Nonfiction
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