The Winner's Crime is the second volume in The Winner's Trilogy, which started with The Winner's Curse
This overpaying--when the winning bid in an auction exceeds the target's value--is known as the winner's curse
, or hubris.
Avoid the winner's curse
of high-cost recruiting: Faced with a fiercely competitive market, a broker-dealer can spend seven years' worth of profitability to attract and bring in the best recruit.
Whether there's a winner's curse
or not, the last two Open winners - Els and Darren Clarke - went straight from the Scottish Open to the Claret Jug.
OLLY MURS is backing X Factor winner JAMES ARTHUR's desire to release his debut album as soon as possible to avoid succumbing to winner's curse
Second, it can create a type of winner's curse
where the referrer may feel they aren't being paid enough to refer your company and will feel a bit resentful about it.
NYSE shareholders would be the ultimate beneficiaries of the bidding war, with the acquirers being saddled with the winner's curse
The winner's curse
is said to characterize auctions in which winning bidders erroneously and systematically submit bids in excess of a capital good's "true common value.
The winner's curse
was first written about when the US government auctioned offshore oil blocks.
Over the past few years a topic of discussion in the reinsurance industry has been something economists call the Winner's Curse
Thaler's "The Winner's Curse
," it would have known that such auctions invariably lead to irrational offers--and, indeed, the Rangers' bid (a 10-year contract for $252 million) overshot the next highest offer by about $100 million.
In controlled experiments, bidders at auction often fall prey to a winner's curse
, failing to consider factors conducive to overbidding and thus earning disappointing or even negative returns.