Evidence receipt / belief
Published · transcript-backedHal Varian: belief
19 Jun 2019 Conversations with Tyler Hal Varian on Taking the Academic Approach to Business
“I think, from what I could tell looking at the experimental literature, that naïve players do have a winner’s curse, but they learn over time to shade their bids in a way that gives them a better outcome.”
Source trail
Everything needed to verify it.
- Speaker
- Hal Varian
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 19 Jun 2019
- Publisher
- Conversations with Tyler
Transcript context
…How much do you believe in winner’s curse? Winner’s curse would be most relevant when there is some asymmetry of information. I think, from what I could tell looking at the experimental literature, that naïve players do have a winner’s curse, but they learn over time to shade their bids in a way that gives them a better outcome. So there’s a learning behavior going on there. But if there aren’t many auctions where everyone is experienced, then, on average, we see winner’s curse?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.