Following the Winner’s Curse and the Optimizer’s Curse, this paper introduces the Satisficer’s Curse. The Winner’s Curse requires competition between agents in an auction for, usually, a common-value item; the recently named Optimizer’s Curse is a systematic overvaluation when the decision maker is choosing the highest valued prospect of a set of uncertain future outcomes. The Satisficer’s Curs...

The Natural Resource Curse literature started with a clear consensus that dependence on natural resources have direct negative effects economic growth and levels of democracy. However, the today reflects debate is still going where several papers evidence against hypothesis, which provides many open avenues for further research. This paper surveys resource curse identifies main arguments findin...

There is an economic natural resource curse as well as a political natural resource curse. The economic literature identifies certain characteristics of countries that are likely to fall victims to the former curse. ent literature on the y to explore the question In this essay we draw on these characteristics, rec political natural resource curse and Cuba’s histor of how likely is Cuba to fall...

If the value of a commodity is unknown, a prospective buyer must realize that a bid based on an overestimate of its value is likely to be accepted. In this situation, merely finding out that one’s bid is accepted may cause one to reduce the estimate of a commodity’s value, so winning an auction can bring a feeling of regret. Acceptance of a bid is an informative event, and failure to incorporat...