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:
“Could beauty be beaten out,
O youth the cities have sent
to strike at each other’s strength,
it is you who have kept her alight.”
—Hilda Doolittle (1886–1961)
“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.”
—Rutherford Birchard Hayes (1822–1893)