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Winners's curse

• Problem faced by uninformed bidders. For example, in an initial public offering uninformed participants are likely to receive larger allotments of issues that informed participants know are overpriced.

 
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 Initial public offering
Public offering

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If you achieve success, you will get applause, and if you get applause, you will hear it. My advice to you concerning applause is this; enjoy it but never quite believe it. Robert Montgomery

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