The art of collecting art : a Keynesian “beauty contest game” ?

In his masterpiece, The General Theory of Employment, Interest and Money (1936), John Maynard Keynes wrote the following: “Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly correspondsLire la suite « The art of collecting art : a Keynesian “beauty contest game” ? »