Keynesian Beauty Contest

The Keynesian Beauty Contest is a game in which players are rewarded for ranking the contestants in order of popularity. If your entry matches the average of all player entries then you win the pot!

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Scoring

Scoring is calculated as shown below. Note that more points are awarded for correctly ranking the most popular contestants than for the least popular contestants.

$$total\,points = \sum_{i=1}^n[(N_{candidates} - Rank_{i}) * (N_{candidates}-|Rank_{i}-Entry_{i}|)]$$

Example Calculation:

Contestant	Actual Rank	Your Vote	Calculation	Points
strawberry	0	2	=(8-0)*(8-|0-2|)	48
apple	1	4	=(8-1)*(8-|1-4|)	35
watermelon	2	5	=(8-2)*(8-|2-5|)	30
mango	3	7	=(8-3)*(8-|3-7|)	20
kiwi	4	0	=(8-4)*(8-|4-0|)	16
blueberry	5	6	=(8-5)*(8-|5-6|)	21
banana	6	1	=(8-6)*(8-|6-1|)	6
cherry	7	3	=(8-7)*(8-|7-3|)	4
Total	null	null		180

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Winning

The game is pari-mutuel which means the winners divide the total pot amongst themselves pro-rata based on the amount each player bet. Bigger bets entitle a player to a larger share of the pot.

The house takes a 4% rake.