Construct · 1 fields · 1 citations

loser's curse: a standalone construct

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Experimental economics

the tendency of decision makers to overvalue the right to choose first, so winners of early picks pay more than the picked option is worth.

In experimental economics, loser's curse refers to the tendency of decision makers to overvalue the right to choose first, so winners of early picks pay more than the picked option is worth. This meaning comes from Massey (2013) in Management Science.[1]

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Nearby constructs

option4 fields · 9 citationsjingle · one word, four constructs right3 fields · 4 citationsjingle · one word, three constructs

References

Massey, C., & Thaler, R. H. (2013). The Loser's Curse: Decision Making and Market Efficiency in the National Football League Draft. Management Science, 59(7), 1479-1495. https://doi.org/10.1287/mnsc.1120.1657

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