Elite Warrior

Posts Tagged ‘winner

The Winner’s Curse

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This phenomenon is known as Winner’s Curse. Let us take an example and then we will talk on it.

A teacher comes in a room with coin filled in a glass jar.The  teacher gives option to the student to guess for the total amount of money, the guy guessing largest amount of money will be getting the jar for that price. Almost more than 60% of the student will be bidding for nearest value of the sum in jar adhering to wisdom of crowd and some will bid for quite lesser than the actual sum and some will go for more than the actual sum. The guy winning the bid has paid more than the item auctioned values. The winner always gets the feeling that he overpaid.

First of all, let’s see what common value auction means. Common value auction is the type of auction where the item has got a fixed value for all participant for example a 8-GB USB drive. Its market value is fixed and costs equal for all. So, when in auction most of the people will be bidding near the market value but the guy winning the bid must be bidding higher than other fellows i.e. higher than its market price. So, after getting the product he gets a felling that he could have bought it in lesser price in market.So, it becomes a losing situation.

If the auction is not common value auction then there is different situation. Lets take example for bidding of bat-mask and bat-belt. I am a bat man fan so I could want to buy it for $150 but for one of my friend who doesn’t like batman at all it could have a value of less than $10. So , in this case, the winner is not necessarily loser. One of the way to avoid winner’s curse is to bid closets to market price.

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Written by elitewarrior

March 15, 2009 at 11:12 pm

Posted in The Almighty Buck

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WCC 2008,Bonn : Day2

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The second game of the match, every viewer was thinking a very good game to go and they got it but again the game was draw.The opening was Nimzo Indian opening but pawn structure later got symmetrical around move 12 .At move 23 Kramnik sacrifices a pawn to gain control of e5. After a long struggle at move 30 Kramnik seems to get compensation for his lost pawn. After move 31 Anand is running short on time and Kramnik has plenty of time as compared to his clock, so he may mess the game. So, Anand accepts the draw offer and again the is drawn. The score upto now is 1-1 (with 2 games 1/2-1/2) for Anand and Kramnik. The pgn for the game is given below. You can watch is using any pgn viewer.
[Event “WC 2008”]
[Site “Bonn”]
[Date “2008/10/15”]
[Round “2”]
[White “Anand, V.”]
[Black “Kramnik, V.”]
[Result “1/2-1/2”]
[Board “2”]
[BlackElo “2783”]
[WhiteElo “2772”]
[WhiteClock “1:59”]
[BlackClock “2:00”]
[Clock “W/0:02.33”]

1. d4 Nf6 2. c4 e6 3. Nc3 Bb4 4. f3 d5 5. a3 Bxc3+ 6. bxc3 c5 7. cxd5 Nxd5 8.
dxc5 f5 9. Qc2 Nd7 10. e4 fxe4 11. fxe4 N5f6 12. c6 bxc6 13. Nf3 Qa5 14. Bd2
Ba6 15. c4 Qc5 16. Bd3 Ng4 17. Bb4 Qe3+ 18. Qe2 O-O-O 19. Qxe3 Nxe3 20. Kf2
Ng4+ 21. Kg3 Ndf6 22. Bb1 h5 23. h3 h4+ 24. Nxh4 Ne5 25. Nf3 Nh5+ 26. Kf2 Nxf3
27. Kxf3 e5 { [%clk 0:19.38] } 28. Rc1 Nf4 { [%clk 0:18.25] } 29. Ra2 { [%clk
0:17.07] } Nd3 { [%clk 0:15.04] } 30. Rc3 { [%clk 0:13.42] } Nf4 { [%clk
0:14.06] } 31. Bc2 { [%clk 0:08.17] } Ne6 { [%clk 0:12.40] } 32. Kg3 { [%clk
0:04.39] } Rd4 { [%clk 0:09.54] } 1/2-1/2

Written by elitewarrior

October 17, 2008 at 12:00 pm

WCC 2008,Bonn : Day1

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This was the first game of very anticipated World cless Championship 2008. This match is considered to be the decsion maker since  all the FIDE championship after Kasparov’s breaking from from fide were tournament. This match also got high significance due to Kramnik’s asking about the value of the tiltle since it was gained through a tournament not match. So, the result of this championship will prove who is rightful owner of the title.

The first game started today at 3:30 CETand ended after 3hrs 4min of long stressful time.

The game  in pgn is given here:


Date “2008.10.14”]
[Result “1/2-1/2”]
[White “Vladimir Kramnik”]
[Black “Viswanathan  Anand”]
[BlackElo “2783”]
[WhiteElo “2772”]
[Event “2008 WCC Game 1”]
[Site “Germany”]

1. d4 d5 2. c4 c6 3. Nc3 Nf6 4. cxd5 cxd5 5. Bf4 Nc6 6. e3 Bf5 7. Nf3 e6 8. Qb3 Bb4 9. Bb5 O-O 10. Bxc6 Bxc3+ 11. Qxc3 Rc8 12. Ne5 Ng4 13. Nxg4 Bxg4 14. Qb4 Rxc6 15. Qxb7 Qc8 16. Qxc8 Rfxc8 17. O-O a5 18. f3 Bf5 19. Rfe1 Bg6 20. b3 f6 21. e4 dxe4 22. fxe4 Rd8 23. Rad1 Rc2 24. e5 fxe5 25. Bxe5 Rxa2 26. Ra1 Rxa1 27. Rxa1 Rd5 28. Rc1 Rd7 29. Rc5 Ra7 30. Rc7 Rxc7 31. Bxc7 Bc2 32. Bxa5 Bxb3

You can save the given part as pgn file and view using any pgn viewer. Any chess client is able to read pgn file. If you don’t have any you can download Winboard/Xboard to view the game using above pgn.

The game started with d4 . Vladimir plays much regularly with d4. Opening was exchange slav

after 4.cxd5

and remained symmetrical for long . At move 12 … Ng4 Anand offered for exchange of knight and Kramnik accepted it .

After13… Bxg4

The game remained in balance till move 14… Rxc6 where Anand sacrifices a pawn for better development.

After 14… Rxc6

Now Anand moves his queen to c file and offers exchange of queens, Vladimir excepts it because it is better option to exchange compared to avoiding it. Avoiding the  exchange may make Kramnik’s queen vulnerable. Now Kramniks castles at move 17 0-0 to connect his rook and try to contest for an open file .Kramnik keep on trying to push e4 pawn and on 22… Rd8 Anand tries to prevent d5.

after 22… Rd8

After Anand takes 25… Rxa2 material is balanced. All the rooks are off the board after move 31.Bxc7 and we have equal materials as well as bishops of opposite color and game is moving toward a dead draw.

at the end of the game

At last the game is draw by agreement.
It is good for Anand, getting an easy draw with the black pieces in game 1, it is a psychological win for him.
Let’s see what happens in game 2 tomorrow.

Written by elitewarrior

October 15, 2008 at 12:44 am