A situation in which the winner of an auction is worse off than the loser because of inaccurate valuation is known as:

Name: A situation in which the winner of an auction is worse off than the loser because of inaccurate valuation is known as:
Brand: Quizplus
Rating: 4.7 (51 reviews)

Question

Quizplus · Accepted Answer

The winner's curse occurs when the winner of an auction overpays for the item due to an inaccurate valuation or estimation of its true value. As a result, the winner ends up worse off than the losers who did not pay as much for the item.

A Situation in Which the Winner of an Auction Is