More or Less - Richard Thaler and The Winner’s Curse
In the later part of the 20th century, a pioneering group of economists started shaking up their academic field.
These “behavioural economists” used findings from experimental psychology and everyday life to challenge the prevailing view that human beings were rational decision makers – acting in predictable ways to maximize their wealth.
One of those pioneers was Richard Thaler, who noted down some of these “anomalies” in a column in the 1980s, which was turned into a book - The Winner’s Curse - first published in 1992. His work also won him the Nobel memorial prize in economics in 2017.
More than 30 years on, he has returned to that book, publishing a new, updated version with co-author Alex Imas, which looks at whether those anomalies in rational thinking have stood the test of time.
Tim asks him to set out two of his most famous ideas – the winner’s curse itself, and the idea of “mental accounting”.
Presenter: Tim Harford Series producer: Tom Colls Sound mix: Donald MacDonald Editor: Richard Vadon
It Could Happen Here - It Could Happen Here Weekly 210
All of this week's episodes of It Could Happen Here put together in one large file.
- Requiem for Stop Cop City
- Executive Disorder: White House Weekly #43
- CZM Rewind: My RNC Grindr Adventure
- CZM Rewind: Elon Musk Has Lost the Gamers
You can now listen to all Cool Zone Media shows, 100% ad-free through the Cooler Zone Media subscription, available exclusively on Apple Podcasts. So, open your Apple Podcasts app, search for “Cooler Zone Media” and subscribe today!
Sources:
Requiem for Stop Cop City
https://www.youtube.com/watch?v=F3dqH_lfh6g
https://www.policemag.com/articles/understanding-the-ooda-loop
https://www.theguardian.com/us-news/article/2024/may/29/atlanta-police-cop-city-surveillance
https://www.youtube.com/watch?v=qQZDfvAZrrU
https://newrepublic.com/article/190850/coming-war-dissent
https://www.congress.gov/bill/119th-congress/house-resolution/26/text
https://atlpresscollective.com/2025/11/13/atlanta-police-flock-immigration-searches/
https://www.404media.co/a-texas-cop-searched-license-plate-cameras-nationwide-for-a-woman-who-got-an-abortion/
https://www.whitehouse.gov/presidential-actions/2025/04/strengthening-and-unleashing-americas-law-enforcement-to-pursue-criminals-and-protect-innocent-citizens/
https://www.whitehouse.gov/presidential-actions/2025/08/additional-measures-to-address-the-crime-emergency-in-the-district-of-columbia/
https://www.theguardian.com/us-news/2025/oct/29/pentagon-memo-quick-reaction-forces
https://www.whitehouse.gov/presidential-actions/2025/09/countering-domestic-terrorism-and-organized-political-violence/
https://newuniversity.org/2025/05/10/ice-raids-home-in-irvine-rep-dave-min-issues-statement/
https://theintercept.com/2023/05/02/cop-city-activists-arrest-flyers/
https://www.youtube.com/watch?v=yok1fhPICAY
https://www.mainlineatl.com/georgia-drops-charges-against-atlanta-solidarity-fund-rico-cop-city/
https://www.mainlineatl.com/cop-city-rico-judge-to-toss-charges/
Executive Disorder: White House Weekly #43
https://www.axios.com/2025/11/19/ukraine-peace-plan-trump-russia-witkoff
https://www.youtube.com/watch?v=BqZO0VRlp7E
https://x.com/SenMcConnell/status/1992719172292214824?s=20
https://x.com/BarakRavid/status/1990948698508185760
https://www.dhs.gov/publication/dhscbppia-049-cbp-license-plate-reader-technology
https://www.reuters.com/world/us/doge-doesnt-exist-with-eight-months-left-its-charter-2025-11-23/
https://www.youtube.com/watch?v=nDanzN1EUeE
https://www.nytimes.com/2025/11/20/nyregion/mamdani-osse-dsa-endorsement.html
CZM Rewind: Elon Musk Has Lost the Gamers
https://www.youtube.com/watch?v=z1ykCc588Zw
https://thecourier.com/news/549130/browns-need-to-start-asking-questions-about-depodesta/
https://g-mnews.com/en/global-games-market-will-generate-usd-187-7-billion-in-2024/
See omnystudio.com/listener for privacy information.
array(3) { [0]=> string(150) "https://www.omnycontent.com/d/programs/e73c998e-6e60-432f-8610-ae210140c5b1/78d30acb-8463-4c40-a5ae-ae2d0145c9ff/image.jpg?t=1751824393&size=Large" [1]=> string(10) "image/jpeg" [2]=> int(0) }Risky Business with Nate Silver and Maria Konnikova - The Prisoners’ Dilemma of Performance-Enhancing Drugs
This week we answer a question from listener Brandon, who’s noticed a rise in performance-enhancing drugs outside of sports. Nate and Maria discuss their own philosophies on PEDs, their impact on equilibriums, and what people risk when they decide to juice.
For more from Nate and Maria, subscribe to their newsletters:
The Leap from Maria Konnikova
Silver Bulletin from Nate Silver
See omnystudio.com/listener for privacy information.
array(3) { [0]=> string(184) "https://www.omnycontent.com/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/951120d9-cf6e-4224-93d7-b15c014dcea5/f6b4bbf1-c2a3-4549-a763-b39c0152a6ca/image.jpg?t=1763759227&size=Large" [1]=> string(10) "image/jpeg" [2]=> int(0) }Global News Podcast - Technical issue causes global flight disruption
Airbus has grounded thousands of its planes to fix a technical problem. Airlines are working to install a software update but flight delays and cancellations are expected over the coming days. Also: Donald Trump says he will cancel every order Joe Biden signed with an autopen and pardon a Honduran ex-president convicted of drug-trafficking; the WHO issues guidelines on infertility and how it could be treated; President Zelensky's top aide Andriy Yermak resigns amid Ukraine's corruption scandal; the link between tattoos and skin cancer; and Russia eyes up remote-controlled spy pigeons in the drone age.
The Global News Podcast brings you the breaking news you need to hear, as it happens. Listen for the latest headlines and current affairs from around the world. Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight. Get the news that matters, delivered twice a day on weekdays and daily at weekends, plus special bonus episodes reacting to urgent breaking stories. Follow or subscribe now and never miss a moment. Get in touch: globalpodcast@bbc.co.uk
The World in Brief from The Economist - Zelensky’s chief negotiator resigns; airlines warn of disruption after Airbus orders software updates, and more
Hosted on Acast. See acast.com/privacy for more information.
CBS News Roundup - 11/28/2025 | World News Roundup Late Edition
Investigators are trying to determine a motive for the shooting this week of two National Guard members -- one of whom has died. A top aide to Ukrainian president Zelenskyy resigned today after his home was searched by anti-corruption investigators. It's Black Friday, and shoppers hit the stores.
To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy
Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
PBS News Hour - World - Top Zelenskyy aide resigns in midst of Ukraine corruption scandal
Marketplace All-in-One - ‘Tis the season for credit card debt
Holiday spending tends to drive up U.S. consumers’ credit card debt. In the past, most households were able to pay down that debt come the new year. But as wallets get squeezed, that may not be the case in 2026. Plus: Monopoly celebrates his 90th anniversary, a family moves from a farm to the city, and we visit a lab growing the chocolate of the future.
Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.
Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.
Newshour - Ukraine president’s top adviser resigns
The top adviser to Ukraine's President Volodymyr Zelensky has resigned after anti-corruption investigators raided his home in the capital Kyiv. Andriy Yermak was the president's chief of staff and headed the Ukrainian delegation at talks about ending the war with Russia.
Also in the programme: Airbus says it's ordering immediate modifications to six thousand of its aircraft after finding a fault that could affect flight controls; and eight more people have been arrested over Wednesday's fire in a group of Hong Kong tower blocks that killed at least 128 people.
(File photo: Andriy Yermak, former adviser to President Zelensky, pictured on January 22, 2024. Credit: REUTERS/Gleb Garanich/File Photo)
