A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, The General Theory of Employment, Interest and Money (1936), to explain price fluctuations in equity markets.
Read more about Keynesian Beauty Contest: Overview, Subsequent Theory
Famous quotes containing the words beauty and/or contest:
“What is the use of aesthetics if they can neither teach how to produce beauty nor how to appreciate it in good taste? It exists because it behooves rational human beings to provide reasons for their actions and assessments. Even if aesthetics are not the mathematics of beauty, they are the proof of the calculation.”
—Franz Grillparzer (1791–1872)
“Another danger is imminent: A contested result. And we have no such means for its decision as ought to be provided by law. This must be attended to hereafter.... If a contest comes now it may lead to a conflict of arms. I can only try to do my duty to my countrymen in that case. I shall let no personal ambition turn me from the path of duty. Bloodshed and civil war must be averted if possible. If forced to fight, I have no fears from lack of courage or firmness.”
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