# Why you overpaid at that online auction

An episode of [The Indicator from Planet Money](https://invisiblenetwork.ai/podcast/1320118593), 17 Nov 2025, 8:59.

Audio: https://prfx.byspotify.com/e/play.podtrac.com/npr-510325/npr.simplecastaudio.com/0a4e8d3b-fe23-4948-9e39-20fcf16f9331/episodes/16a82da7-49d4-40a9-a67d-25f909781686/audio/128/default.mp3?awCollectionId=0a4e8d3b-fe23-4948-9e39-20fcf16f9331&awEpisodeId=16a82da7-49d4-40a9-a67d-25f909781686&t=podcast&e=nx-s1-5608236&p=510325&d=539&size=8633870

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 The Winner’s Curse: Behavioral Economics Anomalies, Then and Now. Read Planet Money’s newsletter on the winner’s curse. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

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