Avoid the Auction Winner’s Curse

Nobel Prize Winning Techniques to Minimize Regret

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The Problem With Most Auctions

One key aspect is Milgrom’s theory is the concept of “private value.” That is what each individual bidder values the item at — which clearly can vary enormously from bidder to bidder. It’s partly based on the bidder’s perception of the item’s current market value. It’s also partly subjective because different people place less or more value on the item — for reasons unique to their specific situations.

Milgrom Came Up With the No Trade Theorem

We tend to automatically assume that when we trade one thing for another (say, baseball cards), if both parties agree, it’s an equal transaction.

Milgrom is the World’s Foremost Auction Designer

Through his study of auctions and development of Auction Theory, Milgrom has helped governments and businesses design auctions so they’re structured in unconventional ways.

Auctions Aren’t New

Economic historians have documented auctions in China, Babylon, the Roman Empire and other places going back as far as 2,500 years.

How Milgrom and Wilson Enabled the Wireless World

Beginning in the early 90’s, technological advances caused a surge in demand for radio broadcast broadband signals across the spectrum.

Copywriter, financial writer, editor & unconventional thinker. Check out Income Investing Secrets newsletter https://incomeinvestingsecrets.substack.com/about

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