...judgement, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our...intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practise the fourth, fifth and higher...

...judgment, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our...intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher...

...judgement, really are the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our...what average opinion expects average opinion to be. (Keynes (1936), pp. I54f). This is in contrast to a beauty competition where each judge simply votes...

...judgment, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our...intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practise the fourth, fifth and higher...

...the third degree when we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." JM Keynes, The General Theory of Employment, Interest and Money (London: MacMillan & Co.,...

...of the other competitors, all of whom are looking at the problem from the same point of view . . . (We) have reached the third degree where we devote...intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practise the fourth, fifth, and higher...

...the basis of what competitors are expected to do. To note again the insight of John Maynard Keynes, "We have reached the third degree, where we devote...intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, the fifth and higher...

...761, 825 ff. iot Keynes, General Theory, S. 156, kommentierte den Aktienmarkt daher schon 1936 so: „We have reached the third degree where we devote...intelligences to anticipating what average opinion expects the average opinion to be". Zustimmend ua Baumol, Stock Market, S.5lii.,Ackley, 73 AER 1,13 (1982);...

...one's judgment, are really prettiest, nor even those which average opinion genuinely thinks prettiest. We have reached the third degree where we devote our...believe, who practice the fourth, fifth and higher degrees."2 We can get a taste for these subtleties by playing children's games, like "one, two, three,...

...ability, really are the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our...what average opinion expects average opinion to be. (1936, p. 154) No doubt some initial shared presumptions about prettiness are needed; otherwise the...