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IPL mega auction framed as a lesson in behavioural economics

Original: 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.

Why now: The IPL mega auction is approaching and its inflated bidding behaviour invites economic analysis.

Indian Premier LeagueIPL mega auction

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Evidence

• IPL mega auction or a masterclass in behavioural economics? Sunk cost fallacy, winner’s curse, FOMO and more | Explained · Livemint

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