Tag Archives: Keynesian beauty contest

What makes people comment like crazy on Midas Oracle? –> ANSWER –> Suspense, Suspense –> John Maynard Keynes

Posted on September 25, 2009 by Chris F. Masse

As noticed by our good Doctor Professor Michael Giberson (of Knowledge Problem fame): The appropriateness of the “prediction market” label to an information aggregation mechanism — 39 comments The best way to rank the best ideas coming from the rank … Continue reading →

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Deep Throat’s take of Emile’s take of the SAVE AWARD program

Posted on September 24, 2009 by Guest Author

Emile’s idea is a half-beauty contest, but if Emile thinks the OMB officials have expertise that won’t be swayed by the crowd, then the original SAVE AWARD process was half-good as well. The officials would be able to count the … Continue reading →

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Can a Keynesian beauty contest improve Pres. Obama’s suggestion box for U.S government employees?

Posted on September 24, 2009 by Michael Giberson

President Barack Obama has created the “SAVE Award,” a process by which U.S. government employees can submit ideas for “how their agency can save money and perform better.” A committee of senior officials from the Office of Management and Budget … Continue reading →

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Barack Obama and the wisdom of the Federal crowd

Posted on September 23, 2009 by Chris F. Masse

“There is no aggregation of the collective wisdom. The crowd is called on only to submit ideas, not to help evaluate them, which is the critical step in the delicate wisdom of crowd recipe.”

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