Winner's Curse

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The Mental Models Daily Podcast

Mental Models Daily

280 episodes

2 days ago

Welcome to Mental Models Daily, your go-to podcast for practical insights into the world of mental models. Each day, we break down a new mental model to help you think more clearly, make better decisions, and navigate the complexities of life with ease. From probabilistic thinking and first principles to the Pareto principle and the Eisenhower matrix, we explore a wide range of concepts that will sharpen your mind and enhance your problem-solving skills. Join us for daily episodes that will transform the way you approach challenges and opportunities. Tune in, learn, and elevate your thinking!

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Winner's Curse

The Mental Models Daily Podcast

5 minutes 31 seconds

6 months ago

Winner's Curse

The winner's curse is a phenomenon that occurs in auctions or competitive bidding processes where the winner tends to overpay or experience a suboptimal outcome compared to the intrinsic value of the item being auctioned. It arises when bidders in the auction have incomplete or imperfect information about the true value or worth of the item, leading the winning bidder to potentially pay more than the item is worth.

Careful what you win for 🎯💸 Overbidding leads to regret—especially when emotion outpaces logic.

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