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 important, then, is not that the critic should possess a correct abstract definition of beauty for the intellect, but a certain kind of temperament, the power of being deeply moved by the presence of beautiful objects.”
—Walter Pater (1839–1894)
“By his mere quiet power, on the minds of the now contestants, He could have either saved or destroyed the Union without a human contest. Yet the contest began. And having begun He could give the final victory to either side any day. Yet the contest proceeds.”
—Abraham Lincoln (1809–1865)