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The Winner's Curse: Paradoxes and Anomalies of Economic Life Audiobook
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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.
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About Richard Thaler
Richard H. Thaler is the coauthor of the bestselling book Nudge with Cass R. Sunstein, and the author of Quasi Rational Economics and The Winner’s Curse. He is a professor of behavioral science and economics at the University of Chicago Booth School of Business and, in 2015, the president of the American Economic Association.
About Arthur Morey
Arthur Morey has won three AudioFile Magazine “Best Of” Awards, and his work has garnered numerous AudioFile Earphones Awards and placed him as a finalist for two Audie Awards. He has acted in a number of productions, both off Broadway in New York and off Loop in Chicago. He graduated from Harvard and did graduate work at the University of Chicago. He has won awards for his fiction and drama, worked as an editor with several book publishers, and taught literature and writing at Northwestern University. His plays and songs have been produced in New York, Chicago, and Milan, where he has also performed.