31E11100 - Microeconomics: Pricing, Lecture, 13.9.2021-25.10.2021
Kurssiasetusten perusteella kurssi on päättynyt 25.10.2021 Etsi kursseja: 31E11100
Reading assignment 6 (due 20.10. at 10:15)
Suorituksen vaatimukset
Palautettava viimeistään: keskiviikkona 20. lokakuuta 2021, 10.15
Read
Richard H. Thaler (1988): “Anomalies: The Winner’s Curse”, Journal of Economic
Perspectives 2 (1). (publicly available at https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.2.1.191
).
1. Explain what is meant by winner’s curse. In what kind of auctions could it apply?
2. How should rational economic agents take into account the possibility of winner’s curse?