The Winner's Curse
Author: Richard H. Thaler
List Price: $18.95
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ISBN: 0691019347
Publisher: Princeton Univ Pr (10 January, 1994)
Sales Rank: 23,822
Average Customer Rating: 4.2 out of 5
Customer Reviews
Rating: 5 out of 5
An excellent book about everyday economics
Put simply, this book is a well-written discussion of everyday phenomena that persist despite the fact that they defy economic logic. Though it is challenging material, it is not difficult to read-what a great combination! I first purchased and read this book about two years ago on the recommendation of one of my college economics professors. Since then my interests have diverged, but I have often found myself reflecting upon the situations presented in the series of articles contained within this book. Give this book a chance. You won't regret it.
Rating: 5 out of 5
How to make money in a pub?
How rational are human beings or how close to the economic models do they act? This book is a collection of articles by Professor Thaler which shows that we quite usually don't behave like theory predicts. Thaler's extensive research (the references are 30 pages long) gives The Winner's Curse a great academic foundation, but its maths that can be skipped and easy language makes the book acessible - and enjoyable - for every one that is just interested in Economics. To sum up, if you are studying or working with Economics, you should read this book. It will help you to be skeptical about the theory - just like every scientist should be. If you are reading it just by curiosity, it will enhance your skills when your are talking about the economy at a local pub. Actually, The Winner's Curse teaches you how to make money even in a pub. It worths the money. It's an excellent book.
Rating: 3 out of 5
Approach Only With Game Theory Background
"The Winner's Curse" is a collection of academic articles Richard Thaler wrote for academic literature. And while Thaler thinks like a good economist, unfortunately, he writes like a good economist (that is, badly). This is a helpful book if you are interested in a rigorous mathematical treatment of economic anomalies and have a more than cursory understanding of game theory. If not, check out "Inevitable Illusions: How Mistakes of Reason Rule Our Minds" instead. Similar Products
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