The winner's curse: paradoxes and anomalies of economic life

By:

Thaler, Richard H

Material type: Text

TextSeries: A Russell Sage Foundation BookPublication details: New York The Free Press 1992 Description: ix, 230 pISBN:

9780029324653

Subject(s):

DDC classification:

330 T4W4

Summary: According to most economists, economic behaviour is a rational process. It is assumed that we know what we want, strive to get it and accept the verdict of the market for our effort. Indeed, all who deal with money - the manager who plans competitive business strategies, the lawyer who negotiates contracts, the investor who evaluates risk against return, and the homemaker who balances a budget - are well aware of the economic forces which govern our affairs. But is economic behaviour in real life as rationally explicable as economists claim? Will the carefully calculated pursuit of our preferences always be met efficiently by the market?

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode	Item holds
Book	Ahmedabad	Non-fiction	330 T4W4-1 (Browse shelf(Opens below))	Available		126921

Total holds: 0

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	330 T4 Themes in economic analysis: theory, policy and measurement	330 T4W4-1 The winner's curse: paradoxes and anomalies of economic life	330 T8E2 Economics after the crisis: objectives and means	330 W4E2-1972 The economics of everyday life	330.01 H2 Happiness and economic growth: lessons from developing countries

Includes references and indexes

According to most economists, economic behaviour is a rational process. It is assumed that we know what we want, strive to get it and accept the verdict of the market for our effort. Indeed, all who deal with money - the manager who plans competitive business strategies, the lawyer who negotiates contracts, the investor who evaluates risk against return, and the homemaker who balances a budget - are well aware of the economic forces which govern our affairs. But is economic behaviour in real life as rationally explicable as economists claim? Will the carefully calculated pursuit of our preferences always be met efficiently by the market?

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