When is it a bad thing for a baseball team to win? On the field, of course, it never is. An extra-inning win may leave you with an overworked pen, for instance, but it's still better than having an overworked pen and losing. But when it comes to acquiring baseball talent, it is possible to lose by winning—something that economists call the "winner's curse." What we mean by winning in this case is having the winning bid for a player's services.
Baseball Prospectus
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