Ever put in the winning bid for something on an auction site only to realize you significantly overpaid? Yeah, there’s a phrase for that. On today’s show: the winner’s curse. Richard Thaler’s new book with Alex O. Imas is <a href="https://www.simonandschuster.com/books/The-Winners-Curse/Richard-H-Thaler/9781982165116"target="_blank" >The Winner’s Curse: Behavioral Economics Anomalies, Then and Now</a>.Read Planet Money’s <a href="https://www.npr.org/sections/planet-money/2025/11/11/g-s1-96954/how-to-avoid-the-winners-curse"target="_blank" >newsletter on the winner’s curse</a>. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/"target="_blank" >plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/1268825622/sierra-juarez"target="_blank" >Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/"target="_blank" >Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney"target="_blank" >TikTok</a>, <a href="https://www.instagram.com/planetmoney/"target="_blank" >Instagram</a>, <a href="https://www.facebook.com/planetmoney"target="_blank" >Facebook</a>, <a href="https://www.npr.org/newsletter/money"target="_blank" >Newsletter</a>.   Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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