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Common Value Auctions and the Winner's Curse

Review

This book shows that the kind of winner’s curse at issue is pervasive across various types of auctions and is not eliminated by experience or even by using expert bidders. One of its main contributions is the specification of naïve bidding models that explain patterns of deviations from (Nash) theoretical predictions. The ex post perspectives about how to improve experimental designs and procedures for dealing with bankruptcies were particularly interesting.
(Charles A. Holt, University of Virginia )

Product Description

Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the “winner’s curse.” In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result.

The authors first unveil a fresh survey of experimental data on the winner’s curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers’ revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner’s curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work–and how to make them work.

Buy Common Value Auctions and the Winner’s Curse at Amazon
Buy Common Value Auctions and the Winner’s Curse at Amazon

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Don't Make Me Think: A Common Sense Approach to Web Usability, 2nd Edition

Amazon.com Review
Usability design is one of the most important–yet often least attractive–tasks for a Web developer. In Don’t Make Me Think, author Steve Krug lightens up the subject with good humor and excellent, to-the-point examples.

The title of the book is its chief personal design premise. All of the tips, techniques, and examples presented revolve around users being able to surf merrily through a well-designed site with minimal cognitive strain. Readers will quickly come to agree with many of the book’s assumptions, such as “We don’t read pages–we scan them” and “We don’t figure out how things work–we muddle through.” Coming to grips with such hard facts sets the stage for Web design that then produces topnotch sites.

Using an attractive mix of full-color screen shots, cute cartoons and diagrams, and informative sidebars, the book keeps your attention and drives home some crucial points. Much of the content is devoted to proper use of conventions and content layout, and the “before and after” examples are superb. Topics such as the wise use of rollovers and usability testing are covered using a consistently practical approach.

This is the type of book you can blow through in a couple of evenings. But despite its conciseness, it will give you an expert’s ability to judge Web design. You’ll never form a first impression of a site in the same way again. –Stephen W. Plain

Topics covered:

  • User patterns
  • Designing for scanning
  • Wise use of copy
  • Navigation design
  • Home page layout
  • Usability testing

–This text refers to an out of print or unavailable edition of this title.

Product Description
Five years and more than 100,000 copies after it was first published, it’s hard to imagine anyone working in Web design who hasn’t read Steve Krug’s “instant classic” on Web usability, but people are still discovering it every day.  In this second edition, Steve adds three new chapters in the same style as the original: wry and entertaining, yet loaded with insights and practical advice for novice and veteran alike.  Don’t be surprised if it completely changes the way you think about Web design.

Three New Chapters!

  • Usability as common courtesy — Why people really leave Web sites
  • Web Accessibility, CSS, and you — Making sites usable and accessible
  • Help! My boss wants me to ______. — Surviving executive design whims

“I thought usability was the enemy of design until I read the first edition of this book.  Don’t Make Me Think! showed me how to put myself in the position of the person who uses my site.  After reading it over a couple of hours and putting its ideas to work for the past five years, I can say it has done more to improve my abilities as a Web designer than any other book.

In this second edition, Steve Krug adds essential ammunition for those whose bosses, clients, stakeholders, and marketing managers insist on doing the wrong thing.  If you design, write, program, own, or manage Web sites, you must read this book.”  — Jeffrey Zeldman, author of Designing with Web Standards

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Buy Don’t Make Me Think: A Common Sense Approach to Web Usability, 2nd Edition at Amazon
Buy Don’t Make Me Think: A Common Sense Approach to Web Usability, 2nd Edition at Amazon

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10 Most Common E-zine Publishing Mistakes You Must Avoid - A Must Read For All Seasoned E-zine Publishers & Those In The Making!

Publishing an E-zine is a lucrative business. More and more people are jumping on the E-zine publishing band wagon. Anyone can get an autoresponder and compile their own newsletters and e-courses to their subscribers at the cost of pennies. It is no surprise that E-zines are the choice of medium for list building and selling ad spaces. However, there are a lot of mistakes made by newbies. Mistakes such as unsolicited e-mailing and not focusing on their core business are common mist
Buy 10 Most Common E-zine Publishing Mistakes You Must Avoid – A Must Read For All Seasoned E-zine Publishers & Those In The Making! at Amazon

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