New Economics Contest Series for 2023

New Contests

There are four new contest for this series. Below are brief descriptions of what these contests entail.

Christmas Contest 2022

The Christmas contest requires participants to choose a present for themselves, for the participant who entered immediately before them, and for the participant who entered immediately after them. Each participant will receive 3 presents. There are a choice of 12 presents. A possible value is assigned to each present. A probability that the present is worth its possible value is also stated.

This contest has two objectives. The first objective is to receive the highest value of presents (one from yourself and two from two other participants). The second objective is to give the highest value of presents (one to yourself and two to two other participants). These objectives are measured separately; thus, two participants can win Hive Power. The usual contest tie-breaker rules apply. If there is a tie, the participant who entered first wins. The contest post will provide more information and will explain the rules for both the first and last participants who enter.

Even-to-Win

The ‘Even to Win’ Game requires participants to select a certain number of boxes (e.g. 5 out of 9 boxes). Each box has been assigned points. The participant obtains the points if an even number of participants have selected that box. If only one participant selects the box, it awards no points. If two participants select it, it offers the points stated in the question. If three participants select the box, it awards no points. Some boxes have limits to the number of participants that can select them. For example, a box might have a limit of three participants. Once the third participant has selected the box, new participants can no longer select that box. They are limited to the boxes that have not yet reached their limit.

The objective of the game is to obtain the highest points from the boxes they have selected. If two participants obtain the same total number of points, the participant who entered first wins.

Ice-Cream Game

The ‘Ice Cream’ Game requires participants to select a beach and then a location on that beach to set-up an ice-cream stand. The stand attracts customers based on its proximity to them. The stand can only attract customers that do not need to pass another ice-cream stand (competitor) to reach it.

The objective of the game is to obtain the highest number of customers from the sale of all ice cream. If two participants achieve the same number of customers, the participant who entered first wins. More information will be released in the contest post.

Economics Quiz

The quiz contains 5 questions and 26 possible answers. This is a type of multiple choice quiz. Instead of 4 or 5 choices per questions, there 26 choices altogether. The answer for the question could be any of the 26 choices and they are presented in any particular order. The answer to Question 1 could be Q and the answer to Question 2 could be D.

The objective of the game is to answer the most questions correctly. If there is a tie for first place, the participant who entered first wins.

When will these contest be played?

The dates and order of each contest will not be revealed until each contest has been posted (except the Christmas Contest). Each contest will only be played once unless it is also part of the Challenge Series. Participants will have a better idea of which contests are to come as the year draws to an end.

Prizes

Instead of giving away Hive, I’ll be giving away Hive Power. The Hive will be powered up to the winners account directly. This is to promote investment in Hive. Cryptocurrency Bear Markets are a good time to accumulate Hive. The prices are low. Therefore, it is not worth selling. Instead, Hive Power can be used to earn more Hive. This can be sold in the next Bull Market or invested even longer until future cycles. Hive Power will earn more for the winners in the long-run. If given away as Hive, winners might be tempted to sell the Hive now.

Challenge Series

The Challenge Series could be considered as part of the Economics Contest Series. It is like a more intense tournament version of the Contest Series. The Challenge Series is most likely to be in the third quarter of 2023. Below are the challenges for the series. It will consist of the two Buying and Selling Games, the three announced new contests, and two more challenges to be announced next year.

• Buying and Selling Game (Original)
• Buying and Selling Game (Business Version)
• Even-to-Win (New Contest)
• Ice-Cream Game Contest (New Contest)
• Economics Quiz Contest (New Contest)
• New Contest (to be determined)
• New Contest (to be determined)

All for now

This is all the information I have for now. More information will be provided in the contest posts themselves. I will post another video about the Challenge Series one month before it starts with more information.

More posts

If you want to read any of my other posts, you can click on the links below. These links will lead you to posts containing my collection of works. These 'Collection of Works' posts have been updated to contain links to the Hive versions of my posts.

Hive: Future of Social Media

Spectrumecons on the Hive blockchain

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