Beware the Winner's Curse
Victories that Can Sink You and Your Company
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…
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Produktdetails
Weitere Autoren: Lucas, Henry C. Jr.
- ISBN: 978-0-19-803944-0
- EAN: 9780198039440
- Produktnummer: 13940743
- Verlag: Oxford University Press
- Sprache: Englisch
- Erscheinungsjahr: 2004
- Plattform: PDF
- Masse: 1'750 KB
- Abbildungen: 12 line illus.
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