Our Cute Animal Experiment, Explained

  • Playlist
  • Download
  • Embed
    <iframe src="http://www.npr.org/player/embed/132838904/132846173" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Last month, we asked you to participate in our economics experiment. On today's podcast, we dive into the results.

Everybody who participated saw the same three animal videos. But people were randomly assigned to two different groups. One group was asked to pick the animal they thought was the cutest. The other group was asked to pick the animal that they thought was most likely to be voted cutest by other participants.

Here are the results:

Note: Totals may not add up to 100, due to rounding.

Note: Totals may not add up to 100 percent, due to rounding. Alyson Hurt /NPR hide caption

toggle caption Alyson Hurt /NPR

The inspiration for the experiment comes from John Maynard Keynes. He famously compared the stock market to a contest where a newspaper shows photographs of several different women, and readers try to guess which woman will be voted most attractive. So it winds up being all about guessing what other people will think.

This kind of thinking can contribute to bubbles. If everybody's buying a stock just because they think everybody else is going to buy it too, the price can go through the ceiling — even if no one thinks the stock has any fundamental value.

For more: The Keynesian beauty contest comes from chapter 12, section V of the General Theory, which is online here. You can watch all the animal videos on our experiment page. And, finally, here's your bonus video of a loris eating some kind of larva.

Subscribe to the podcast. Music: One Eskimo's "Amazing." Find us: Twitter/ Facebook.



Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from