The authors report and compare results from several different versions of an experimental interactive guessing game first studied by R. Nagel (1995), which they refer to as the 'beauty contest' game following J. M. Keynes (1936). In these games, groups of subjects are repeatedly asked to...

This survey paper discusses the policy implications that can be expected from the recent research on nonlinearity and chaos in economic models. Expected policy implications are interpreted as a driving force behind the recent proliferation of research in this area. In general, it appears that no...