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Explain the phenomenon known as the "winner's curse" which often occurs in bidding wars/auctions. How does this relate to cities placing bids for new sports facilities/teams?
Business Management, Management Studies
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In light of the winner's curse, must winning bidders in auctions necessarily "lose" in the sense of paying more than the acquired firm (or product) is worth? What steps can bidders take to prosper in auctions and/or corp ...
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