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Binding: PaperbackDewey Decimal Number: 330 EAN: 9780691019345 ISBN: 0691019347 Label: Princeton University Press Manufacturer: Princeton University Press Number Of Items: 1 Number Of Pages: 240 Publication Date: January 10, 1994 Publisher: Princeton University Press Studio: Princeton University Press Editorial Review: Product Description: 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. Average Rating:
 Rating:  - Very good seller. Shipped Quickly. Product in Great Condition.The seller was prompt and the product was like new. What else can you ask for? Great transaction. Rating: - Very interestingIt gives you a great overview of some of the strange inconsitencies in human behavior. It is more than just a finance book and has many interesting stories that you can talk about with friends later. Rating:  - Behavioral economics for the real world.The "Winners Curse" is a book about behavioral economics. It applies experimental human psychological studies to economic behavior. It consists of 14 chapters, each devoted to a different "anomaly" in economic behavior. The term anomaly is used by the author to denote behavior that runs counter to the assumptions of most theoretical economic models, which assume that people act in a rational and greedy manner. To me (not an economist), that anyone would base a theory on the assumptions of rational ... Read More Rating: - Highly Recommended!We highly recommend this classic of economic literature, one of the first (more or less) accessible presentations of the evidence against economic rationality. Economists have assumed, conventionally, that economic choice rests on a foundation of rationality. For instance, economists tend to think that people will put the same value on two mathematically identical offers. Yet laboratory experiments have proven what everyday experience suggests: people are not quite rational. Author Richard H. Thaler, a ... Read More Rating:  - by an economist, for an economistas an amateur economist grown increasingly dissatisfied w/ the failures of available theories, i was hopeful that this book would expound more on why markets fail. in some ways it did (in a very drab and boring language), although its coverage of financial markets (my interest) was all too brief and incomplete---the coverage of losers' outperformance of winners in equities was by far (IMHO) the best section of the book, but as good as that section was, the coverage of foreign exchange fluctuations was a ... Read More |
