The winner's curse decision- making dictum means that:
A)winning participants in an action typically pay too much for the item won
B)a person always wins
C)whatever decisions winners make will be correct
D)a person never wins

Question

Quizplus · Accepted Answer

The winner's curse decision-making dictum means that winning participants in an auction typically pay too much for the item won. This occurs because the winner may have overestimated the item's value or competition drove up the price beyond what the item was worth.

The Winner's Curse Decision- Making Dictum Means That