Rating: 
Summary: Economic behavior puzzles the experts
Review: Much more fun to read than I expected. I am generally put off by economics books, but this one turned into a fascinating read.The Winner's Curse lists a series of economic anomalies, the title being one of them. Thaler calls them anomalies since each defies 'classical' economic theory, generally the notion that markets are efficient and participants know what they are doing. Since few would accuse me of knowing what I'm doing when buying stocks, I find myself happily agreeing with Thaler's digs at Ivory tower economists. The "winner's curse" anomaly is the notion that people who 'bid to win' at an auction, are often sorry that they won. My favorite anomalies included 'loss adversion' (we remember financial disasters, not successes), 'Intertemporal Choice' (our mental 'rate of return' analysis baffles the experts), 'the favorite factor' (yes, bet on the favorite!), and 'calendar effects' (forget about random walks down Wall Street).
Rating:
Summary: Economic behavior puzzles the experts
Review: Much more fun to read than I expected. I am generally put off by economics books, but this one turned into a fascinating read. The Winner's Curse lists a series of economic anomalies, the title being one of them. Thaler calls them anomalies since each defies 'classical' economic theory, generally the notion that markets are efficient and participants know what they are doing. Since few would accuse me of knowing what I'm doing when buying stocks, I find myself happily agreeing with Thaler's digs at Ivory tower economists. The "winner's curse" anomaly is the notion that people who 'bid to win' at an auction, are often sorry that they won. My favorite anomalies included 'loss adversion' (we remember financial disasters, not successes), 'Intertemporal Choice' (our mental 'rate of return' analysis baffles the experts), 'the favorite factor' (yes, bet on the favorite!), and 'calendar effects' (forget about random walks down Wall Street).
Rating:
Summary: An excellent book about everyday economics
Review: Put simply, this book is a well-written discussion of everyday phenomena that persist despite the fact that they defy economic logic. Though it is challenging material, it is not difficult to read-what a great combination! I first purchased and read this book about two years ago on the recommendation of one of my college economics professors. Since then my interests have diverged, but I have often found myself reflecting upon the situations presented in the series of articles contained within this book. Give this book a chance. You won't regret it.
Rating: 
Summary: Very interesting!!
Review: There are some interesting things that you have to think about while reading this book. From how much should you bid if there are multiple bidders in an auction to making the odds work for you in the stock market or the race track. Each chapter explores a different dilemma for the person who "wins". The only aside I will offer is that the text is hard to read. I am a very light reader and found that the subject matter required several passes in some sections to digest what the author was presenting. Statistically oriented readers should really enjoy this book.
Rating:
Summary: Very interesting!!
Review: There are some interesting things that you have to think about while reading this book. From how much should you bid if there are multiple bidders in an auction to making the odds work for you in the stock market or the race track. Each chapter explores a different dilemma for the person who "wins". The only aside I will offer is that the text is hard to read. I am a very light reader and found that the subject matter required several passes in some sections to digest what the author was presenting. Statistically oriented readers should really enjoy this book.
Rating:
Summary: good introduction
Review: This book by one of the triumvirate of today's leading experimental economists is a solid introduction to many of the challenges which posit to unseat the rational selfish man, homo economicus. Each chapter, which is essentially derived from a corresponding published academic paper by the author on game theory and experimental economics, clearly and succinctly introduces many of the theories and problems currently being researched and debated in academic circles. For someone who is familiar with the author's work, or that of Kahneman and Tversky, the book is largely redundant. Nevertheless the book serves as a great starting point in the field of experimental economics and poses many thought-provoking questions for both the seasoned economist and the curious mind.
Rating:
Summary: good introduction
Review: This book by one of the triumvirate of today's leading experimental economists is a solid introduction to many of the challenges which posit to unseat the rational selfish man, homo economicus. Each chapter, which is essentially derived from a corresponding published academic paper by the author on game theory and experimental economics, clearly and succinctly introduces many of the theories and problems currently being researched and debated in academic circles. For someone who is familiar with the author's work, or that of Kahneman and Tversky, the book is largely redundant. Nevertheless the book serves as a great starting point in the field of experimental economics and poses many thought-provoking questions for both the seasoned economist and the curious mind.
Rating:
Summary: Thoughtful but stimulating exploration of consumer behavior
Review: This book is an excellent introduction to consumer behavior, especially behavioral finance. While it reads at times like an anthology, the book covers many discrete aspects of consumer behavior. By consumer behavior, it is meant consumer risk-taking. Many solid examples, especially in the financial arena. If you are a contrarian investor, then this book is for you--identifying why the "herd" often behaves in the manner that it does with respect to financial decisions. This book will pay for itself many times over, if only you apply it to future investment decisions
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