Talk:Keynesian beauty contest
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[edit] Name in the literature
A cursory glance seems to indicate that this is known as the Keynesian Beauty Contest in the literature. Besides, a paradox is a counterintuitive statement, and in Keynes' words
- It is not a case of choosing those [faces] which, to the best of one’s judgment, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practise the fourth, fifth and higher degrees.” (Keynes, General Theory of Employment Interest and Money, 1936).
there is nothing counterintuitive. Pilatus 14:22, 4 February 2006 (UTC)
[edit] The Bigger Dance
I've removed this recently added section for now because I don't think it has much to do with game theory:
- The Bigger Dance
- An example of a Keynesian beauty contest is the Bigger Dance sponsored by Seattle sports radio station KJR-AM.
- The game is structured similar to that of an NCAA bracket, except with women instead of basketball teams. Listeners are encouraged to fill out an online bracket.
- Once the Dance begins, the station begins having four-minute segments allocated to each game, with listeners calling in to vote for their choice. The woman with the most votes then goes on to the next level. Similar to other brackets for single-elimination tournaments, points are awarded for guessing the correct winner, depending on the round. The winner, determined by the person with the most points for their bracket, receives a prize - a trip to their choice of sporting event.
- As a result, it is very common for listeners to make their selection based on their opinion of what the majority opinion will be, and even participate to ensure that their choice wins, regardless of their individual opinion of relative attractiveness.
How would this rather large section help readers to understand game theory? --Tony Sidaway 15:26, 27 May 2006 (UTC)
