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Author: G. Anandalingam
Publisher: Oxford University Press
ISBN: 0198039441
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
In the roaring 1990s, many companies seemed to claim great victories-acquiring another company, obtaining state-of-the art technology, or hiring a potential CEO savior-only to find that they had made a great mistake. The term "Winner's Curse" was coined by economists to explain an effect commonly observed in auctions. In such situations, since the winning bidder is usually the most optimistic about the value of the item being auctioned, there is a very good chance that the bid will be more (sometimes much more) than the item is worth. So a company that overvalues a good or service, or bids higher than its value has the potential of experiencing this Winner's Curse. In this book, G. Anandalingam and Henry C. Lucas, Jr. expand the model of the Winner's Curse to explain how companies like Tyco, MCI-WorldCom and Bank One overpaid for acquisitions, and how shareholders suffered as a result. They elucidate the disasters that happened during the rush to acquire new technologies and illuminate the reasons that companies that were seemingly pioneers in the dot-com era fell by the wayside. Beginning by exploring the psychological, personal and market factors that can encourage a decision maker to overvalue an asset and experience the Winner's Curse, the book goes on to examine several case studies, including the disastrous wireless spectrum auctions that have devastated the telecommunications industry, and the dot-com bust. It concludes by discussing ways to avoid the Winner's Curse, calling for major changes in the behavior of CEOs and members of boars of directors, as well as the use of powerful techniques for analyzing decisions, including a systems approach to decision making, scenario analysis and game theory.
Author: G. Anandalingam
Publisher: Oxford University Press
ISBN: 0198039441
Category : Business & Economics
Languages : en
Pages : 257
Get Book Here
Book Description
In the roaring 1990s, many companies seemed to claim great victories-acquiring another company, obtaining state-of-the art technology, or hiring a potential CEO savior-only to find that they had made a great mistake. The term "Winner's Curse" was coined by economists to explain an effect commonly observed in auctions. In such situations, since the winning bidder is usually the most optimistic about the value of the item being auctioned, there is a very good chance that the bid will be more (sometimes much more) than the item is worth. So a company that overvalues a good or service, or bids higher than its value has the potential of experiencing this Winner's Curse. In this book, G. Anandalingam and Henry C. Lucas, Jr. expand the model of the Winner's Curse to explain how companies like Tyco, MCI-WorldCom and Bank One overpaid for acquisitions, and how shareholders suffered as a result. They elucidate the disasters that happened during the rush to acquire new technologies and illuminate the reasons that companies that were seemingly pioneers in the dot-com era fell by the wayside. Beginning by exploring the psychological, personal and market factors that can encourage a decision maker to overvalue an asset and experience the Winner's Curse, the book goes on to examine several case studies, including the disastrous wireless spectrum auctions that have devastated the telecommunications industry, and the dot-com bust. It concludes by discussing ways to avoid the Winner's Curse, calling for major changes in the behavior of CEOs and members of boars of directors, as well as the use of powerful techniques for analyzing decisions, including a systems approach to decision making, scenario analysis and game theory.
Author: Dee Walker
Publisher: Sristhi Publishers & Distributors
ISBN: 9382665242
Category : Fiction
Languages : en
Pages : 296
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Book Description
Power does not corrupt. Fear corrupts... perhaps the fear of a loss of power. –John Steinbeck Orphan Harsh makes it to the billionaire club with a burning vision, sheer intellect and the blessings of his political Godfather. The favours must now be paid back, through a huge Guru Dakshina. To honour his Master's wish, Harsh, with the help of his fellow IITians, sets out to create a never-seen-before governance technology that will change the face of democratic India. Everything is at stake: money, reputations, egos and morals. Even lives. Will they succumb to insatiable greed in the murky games of politics, backstabbing and subterfuge, or will they be redeemed by the “Ten Commandments” that once forged their ideals at college? If you thought that supreme technology and unalloyed power can bring lasting public good, or that e-governance and transparency can address the ills of our system, The Winner's Curse will force you to think again. For, ultimately, what's at stake is: YOU. The Winner's Curse: the turbulent voyage of talent and intellect in the morass of turpitude.
Author: Marie Rutkoski
Publisher: A&C Black
ISBN: 1408858215
Category : Young Adult Fiction
Languages : en
Pages : 369
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Book Description
THE FIRST BOOK IN THE HEART-STOPPING WINNER'S TRILOGY: an irresistible story of forbidden romance and class warfare 'Every line in The Winner's Curse is beautifully written. The story is masterfully plotted. The characters' dilemmas fascinated me and tore at my heart... I loved it. I want more.' Kristin Cashore, author of the Graceling Realm books Winning what you want may cost you everything you love. As a general's daughter in a vast empire that revels in war and enslaves those it conquers, Kestrel has two choices: she can join the military or get married. Kestrel has other ideas. One day, she is startled to find a kindred spirit in Arin, a young slave up for auction. Following her instinct, Kestrel buys him - and for a sensational price that sets the society gossips talking. It's not long before she has to hide her growing love for Arin. But he, too, has a secret and Kestrel quickly learns that the price she paid for him is much higher than she ever could have imagined. The first novel in a stunning trilogy, The Winner's Curse is a story of romance, rumours and rebellion, where dirty secrets and careless alliances can be deadly – and everything is at stake.
Author: Richard H. Thaler
Publisher: Simon and Schuster
ISBN: 1451697872
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
Winner of the Nobel Memorial Prize in Economic Sciences Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers—they pay too much and suffer the "winner's curse"—why gamblers bet on long shots at the end of a losing day, why shoppers will save on one appliance only to pass up the identical savings on another, and why sports fans who wouldn't pay more than $200 for a Super Bowl ticket wouldn't sell one they own for less than $400. He also demonstrates that markets do not always operate with the traplike efficiency we impute to them.
Author: John H. Kagel
Publisher: Princeton University Press
ISBN: 0691218951
Category : Business & Economics
Languages : en
Pages : 419
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Book Description
An invaluable account of how auctions work—and how to make them work Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.
Author: Shah Mohammed
Publisher: D-Cube Designs
ISBN:
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
Unveiling the Psychology Behind Brand Success: Exploring Cognitive Biases in Marketing. Are you ready to discover the hidden keys to crafting irresistible marketing campaigns and decoding consumer decisions? Dive into the world of cognitive biases and their profound impact on branding and advertising with “The Secret Strategies of Marketing: How Brands Harness Cognitive Biases to Capture Hearts and Wallets.” Why This Book Matters: In a world bombarded by marketing messages, understanding the psychology that underpins consumer behaviour is the ultimate game-changer. Whether you’re a marketer, entrepreneur, business owner, or an inquisitive consumer, this book unravels the mysteries behind why certain brands resonate deeply while others remain forgettable. Your Guide to Cognitive Biases: This comprehensive guide explores a treasure trove of cognitive biases, from the well-known to the lesser-explored, offering profound insights into their applications and impact. From the allure of familiarity to the power of scarcity, you’ll journey through a spectrum of biases that influence every purchase decision. What’s in Store: Get ready to dive into the fascinating world of cognitive biases and marketing. Explore a rich array of biases, including but not limited to: The Zeigarnik Effect: How unfinished experiences captivate attention. The Decoy Effect: How an irrelevant option can shape choices. Confirmation Bias: Why consumers seek information that confirms their beliefs. Reciprocity Bias: How giving creates lasting brand loyalty. And many more that shape consumer perceptions, choices, and loyalties. Empower Your Marketing Strategy: Armed with these insights, you’ll wield the power to: Craft campaigns that resonate on a deeper emotional level. Build brand loyalty that stands the test of time. Develop messaging that captivates and converts. Navigate the fine line between persuasion and manipulation. Innovate marketing strategies that speak to the heart of consumer desires. Unlock Brand Success: It’s time to unlock the hidden doors to brand success. With “The Secret Strategies of Marketing,” you’ll emerge equipped with the knowledge and techniques to revolutionize your marketing approach, resonate deeply with your audience, and forge lasting connections that transcend traditional campaigns. Empower Yourself Against Manipulation: But it's not just about the brands -this book empowers you. Whether you're a business owner, marketer, or discerning consumer, understanding cognitive biases is your armour against manipulation. Develop a sharper eye to discern effective marketing from mere manipulation. Order Your Copy Today: Prepare to embark on a journey that redefines your understanding of marketing's potential. This book is more than just pages -It's your guide to unlocking the secrets behind consumer minds, paving the way for brand success like never before.
Author: Michael Mainelli
Publisher: Hachette UK
ISBN: 1857889517
Category : Business & Economics
Languages : en
Pages : 378
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Book Description
The founders of London's leading think tank challenge readers to look at economic analysis in a different way.
Author: Barry Goldman
Publisher: ALI-ABA
ISBN: 9780831800116
Category : Language Arts & Disciplines
Languages : en
Pages : 214
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Book Description
Author: Bjørn Espen Eckbo
Publisher: Elsevier
ISBN: 0080559565
Category : Business & Economics
Languages : en
Pages : 1137
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Book Description
This two-volume set summarizes recent research on corporate decision-making. The first volume covers measurement and theoretical subjects as well as sources of capital, including banks, public offerings, and private investors. In the second volume, contributors focus on the ways corporations are structured and the practices through which they can be bought and sold. Thus, its major subjects include dividends, capital structure, financial distress, takeovers, restructurings, and managerial incentives. - Takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues - Discusses everything from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior - Contributors are leading empirical researchers that remain active in their respective areas of expertise - Writing style makes the chapters accessible to industry practitioners
Author: Gisèle Umbhauer
Publisher: Routledge
ISBN: 1317362985
Category : Business & Economics
Languages : en
Pages : 428
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Book Description
Game Theory and Exercises introduces the main concepts of game theory, along with interactive exercises to aid readers’ learning and understanding. Game theory is used to help players understand decision-making, risk-taking and strategy and the impact that the choices they make have on other players; and how the choices of those players, in turn, influence their own behaviour. So, it is not surprising that game theory is used in politics, economics, law and management. This book covers classic topics of game theory including dominance, Nash equilibrium, backward induction, repeated games, perturbed strategie s, beliefs, perfect equilibrium, Perfect Bayesian equilibrium and replicator dynamics. It also covers recent topics in game theory such as level-k reasoning, best reply matching, regret minimization and quantal responses. This textbook provides many economic applications, namely on auctions and negotiations. It studies original games that are not usually found in other textbooks, including Nim games and traveller’s dilemma. The many exercises and the inserts for students throughout the chapters aid the reader’s understanding of the concepts. With more than 20 years’ teaching experience, Umbhauer’s expertise and classroom experience helps students understand what game theory is and how it can be applied to real life examples. This textbook is suitable for both undergraduate and postgraduate students who study game theory, behavioural economics and microeconomics.
