There is a widely discussed problem of publication bias in medical and health services research. Where quantitative effects form the basis of a publication a 'winner's curse' curse may apply. This phenomenon may occur as prospective authors of research papers compete by reporting 'more extreme and spectacular results' in order to increase the chances of their paper being accepted for publicatio...

We conduct experiments on common value auctions with rationing. In each auction, the good is randomly allocated to one of the k highest bidders, at the (k+ 1) highest price. When k > 1, bidders are rationed. As the degree of rationing increases, the equilibrium bid function increases. Experimentally, we find that bidders suffer from the winner’s curse, and lose money on average. However, bids i...

" In view of all that we have said in the foregoing sections, the many obstacles we appear to have surmounted, what casts the pall over our victory celebration? It is the curse of dimensionality, a malediction that has plagued the scientist from the earliest days. " – Richard Bellman 1. Introduction Many real data sets are very high dimensional. In some scenarios, real data sets may contain hun...