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Investing 1: The Stock Market & Penelope The Cow

Planet Money Summer School

CHAPTER

The Key Danger Is That Nobody's Really Thinking

Kaines was thinking about this in terms of a beauty contest. He said the rational, logical thing to do is to try to pick the woman that you think everyone else is going to pick. So we decided to do our own beauty contest. We wanted to test this idea that if people are voting based not on what they personally think is beautiful and valuable, but based on what they think other people will think is beautiful,. How does that change how things are valued? And we decided not to use the beauty of human beings. But rather focusing on cuteness - so we have three animals. A kitten, some baby polar bears, or a mamma and a baby also very cute

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