Concept information
Preferred term
winner's curse
Definition(s)
- The winner's curse is the unfortunate consequence of an auction in which the winning offer for an item was bid so much higher than the item's worth that the winner cannot recover enough value to justify the price paid. A free market can function like an auction—sellers offer their goods and buyers offer their bids of the prices they are willing to pay for those goods. [Source: Encyclopedia of Business Ethics and Society; Winner's Curse]
Broader concept(s)
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-MTL65ZLF-6
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