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:
“for beauty with sorrow
Is a burden hard to be borne:
The evening light on the foam, and the swans, there;
That music, remote, forlorn.”
—Walter De La Mare (1873–1956)
“It is odd but agitation or contest of any kind gives a rebound to my spirits and sets me up for a time.”
—George Gordon Noel Byron (1788–1824)