The Winner's Curse: Paradoxes and Anomalies of Economic LifeSimon and Schuster, 26.06.2012 - 240 Seiten 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. |
Inhalt
Preference Reversals with Amos Tversky | |
9 | |
Parimutuel Betting Markets with William T Ziemba | |
Calendar Effects in the Stock Market | |
A Mean Reverting Walk Down Wall Street with Werner | |
ClosedEnd Mutual Funds with Charles M C Lee | |
Foreign Exchange with Ken A Froot | |
Epilogue | |
Andere Ausgaben - Alle anzeigen
The Winner's Curse: Paradoxes and Anomalies of Economic Life Richard H. Thaler Keine Leseprobe verfügbar - 2021 |
The Winner's Curse: Paradoxes and Anomalies of Economic Life Richard H. Thaler Keine Leseprobe verfügbar - 1992 |
Häufige Begriffe und Wortgruppen
Allocator American Economic Review AMOS TVERSKY anomalies arbitrage asset value auction average behavior bets bettors bias bidders choice closedend funds consumer consumption contribution cooperation correlation costs discount rates dollar economic theory economists efficient market hypothesis endowment effect evidence example excess returns exchange rate Experimental experiments explain foreign exchange Foreign Exchange Market hypothesis implies income increase industry wage interest differential interest rates intertemporal choice investment investors January January effect Journal of Economic Journal of Finance Kahneman Knetsch losers loss aversion mean reversion mental accounting net asset value noise traders observed offer pattern payoffs percent period Player portfolio predictions preference reversal premia procedure invariance profits racetrack rational reciprocal altruism RICHARD H saving sell Shleifer Slovic status quo bias Stock Market stock prices strategy subjects Thaler trading Tversky ultimatum game wage differentials wealth winner’s curse winners workers Ziemba