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Passion Struck with John R. Miles
The Winner’s Curse: Why Smart People Lose Their Way | Alex Imas – EP 716
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What if “winning” isn’t proof of intelligence, but evidence that something went wrong?In this compelling episode of Passion Struck, behavioral economist Alex Imas joins John R. Miles to unpack The Winner’s Curse, a powerful concept from behavioral economics that explains why smart, capable people systematically overpay, overcommit, and double down on bad decisions.Drawing from his research and his forthcoming book co-authored with Nobel Laureate Richard Thaler, Alex reveals how the Winner’s Curse shows up far beyond auctions and markets—shaping career choices, relationships, investments, leadership decisions, and even how we interact with AI-driven systems. When competition, uncertainty,…