Construct · 1 fields · 1 citations

cursed equilibrium: a standalone construct

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Behavioral economics

an equilibrium in which players underestimate how others' actions depend on their private information, explaining overbidding such as the winner's curse.

In behavioral economics, cursed equilibrium refers to an equilibrium in which players underestimate how others' actions depend on their private information, explaining overbidding such as the winner's curse. This meaning comes from Eyster (2005) in Econometrica.[1]

Unit
Recovery means
Measured by

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Nearby constructs

equilibrium4 fields · 4 citationsjingle · one word, four constructs information4 fields · 5 citationsjingle · one word, four constructs winner's curse1 fields · 2 citationsanchor · a standalone construct

References

Eyster, E., & Rabin, M. (2005). Cursed Equilibrium. Econometrica, 73(5), 1623-1672. https://doi.org/10.1111/j.1468-0262.2005.00631.x

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