Beer Infinity Beer, Brewing & Beyond
| I have two random little bits here that don’t amount to posts by themselves–but with a bit of baling wire and a squint we can make them appear to demonstrate some larger point. Bear with me. (Don’t you always?)
The first random bit comes from The Atlantic, in a post about elections and game theory by Andrew McGill. He uses the following example to describe the way delegates may behave in the GOP convention, but that’s immaterial for our purposes. He writes: In 1936, the economist John Maynard Keynes invented a beauty contest. In examining why stock prices fluctuate, he suggested the metaphor of a newspaper pageant, where readers select the six prettiest faces from 100 photographs. But only people who picked the most popular choices would win. “It is not a case of choosing which, to the best of one’s judgment, are really the prettiest, nor even those which average opinion genuinely thinks are the prettiest,” he wrote. “We have reached the third degree where we devote our intelligenc … |
Source: Beervana
Read the full article here.
