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winner’s curse

The tendency to overbid in competitive auctions and thus overpay for an item because of competition for it. Because the winner has overbid, she is said to suffer the winner’s curse because she has what she desired, but at a much greater cost than it is worth. See Also: Dealmaking: Why It’s Tempting to Trust Your Gut, The Winner’s Curse, Beware Your Counterpart’s Biases.

The following items are tagged winner’s curse: