The winner’s curse: or why being a loser may not be so bad after all

This Friday’s Phrase from Word of the Day is topical, as always. I had thought to offer you hung parliament, but that is so last week – and anyway, it’s already been covered on the excellent World Wide Words site.

So instead I bring you the winner’s curse, inspired by Aditya Chakrabortty’s Guardian article in which his application of the term to the current political situation is of less literary interest to us than this comment:

If you want to see the winner’s curse close-up, saunter down to the discount section of your local bookshop. You’ll probably see a pile of celebrity memoirs, for which the publishers paid hundreds of thousands, only to see them flop.

So – being a loser may not be so bad after all!