NCBI ROFL: Why you overspend on Ebay. | Discoblog
Updated: 2012-08-31 00:00:51
: . Subscribe Today Renew Give a Gift Archives Customer Service Facebook Twitter Newsletter SEARCH Health Medicine Mind Brain Technology Space Human Origins Living World Environment Physics Math Video Photos Podcast RSS NCBI ROFL : The fluid mechanics of coffee . rings NCBI ROFL : Why you overspend on . Ebay The value of victory : social origins of the winner’s curse in common value . auctions Auctions , normally considered as devices facilitating trade , also provide a way to probe mechanisms governing one’s valuation of some good or action . One of the most intriguing phenomena in auction behavior is the winner’s curse the strong tendency of participants to bid more than rational agent theory prescribes , often at a significant . loss The prevailing explanation suggests that humans have