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A comment on When negotiating a price, never bid with a round number (2016). Parent comment
> are close it's one thing and if they are far apart it's another. Are
> rounders losing because their estimates are less accurate, relative their counterparty's?
I belive it is normally the one with the most optimistic evaluation that wins. It is called "winner's curse": https://en.wikipedia.org/wiki/Winner%27s_curse
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> are close it's one thing and if they are far apart it's another. Are
> rounders losing because their estimates are less accurate, relative their counterparty's?
I belive it is normally the one with the most optimistic evaluation that wins. It is called "winner's curse": https://en.wikipedia.org/wiki/Winner%27s_curse