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Beauty Contest |
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Beauty Contest In Keynesian economics, a concept describing how rational investors are expected to buy and sell securities. According to the theory, in a free market, rational investors tend to buy securities they believe everyone else thinks are valuable, rather than the ones they themselves believe are valuable. That is, because demand for securities drives prices up and down, rational investors attempt to estimate their demand rather than their intrinsic values. The term is based on a fictional newspaper contest in which contestants are asked to identify one woman among six that other people think to be the most beautiful, rather than the woman the contestant likes best himself. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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