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IPL mega auction
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- 1IPL mega auction framed as a lesson in behavioural economics●IPL mega auction or a masterclass in behavioural economics? Sunk cost fallacy, winner’s curse, FOMO and more | Explained
Ahead of the IPL mega auction, commentary is examining the bidding frenzy through the lens of behavioural economics. Analysts point to concepts like the sunk cost fallacy, the winner's curse and FOMO to explain why franchises pay inflated prices for players, suggesting the auction is as much a psychology experiment as a cricket event.