2min chapter

80,000 Hours Podcast cover image

#33 - Anders Sandberg on what if we ended ageing, solar flares & the annual risk of nuclear war

80,000 Hours Podcast

CHAPTER

The Winner's Curse in Auctions

In an auction, the winner's curse occurs when people try to bid on a company that is hard to estimate. If you win and then lose because everyone else bids less than you did, it means you were probably wrong about its value. In our case, we named the paper the unilateralist curse in order to riff on the winners curse. And if you're ok with somebody else getting te glory or blame for doing it, of course you might actually want know.

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