Ever put in the winning bid for something on an auction site only to realize you significantly overpaid? Yeah, there’s a phrase for that. On today’s show: the winner’s curse.

Richard Thaler’s new book with Alex O. Imas is The Winner’s Curse: Behavioral Economics Anomalies, Then and Now .

Read Planet Money’s newsletter on the winner’s curse .

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org . Fact-checking by Sierra Juarez . Music by Drop Electric . Find us: TikTok , Instagram , Facebook , Newsletter .

behavioral economics

auctions

See Full Page