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Compensating wage differentials

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Wage Differentials

Explain in 4-5 sentences how the "winner's curse" applies to compensating wage differentials.

Hint: Winner's curse happens to people who place the highest bid in an auction, and only then realize that other people valued the item less than they did. They might regret that they won the auction at such a high price.

Reference no: EM132317929

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