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"Society" is
suffering from a jelly bean crisis. The audience is asked to assume the
role of business seeking to solve this crisis by finding jelly beans. This
business opportunity is voluntary and those who do not participate will take the
role of the public suffering from this crisis. It will take investments by
these businesses to find jelly beans and not everyone will want to make this
risky investment.
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To
participate each business must buy or invest in information.
1)
For _____, (set an investment amount based on the type of audience) the
businesses may estimate the number of beans in this jelly bean prone area; under
the tablecloth that has been identified by the jelly bean geologists.
2)
However, the business may choose to wait and buy additional information where
the director will take off the table cloth so that the businesses that purchase
this information can see the size of the container. Now the business can
estimate the volume of the container and if they think that they know the size
of a jelly bean (and jelly beans come in many sizes) they can make a more
informed estimate.
This will
cost an additional amount of _____. This is the geophysical work.
3) The businesses may buy even more information for an
additional _____ to see the container opened. This is the initial well
testing. This information will show the top layer of beans and the wall
thickness of the container. Note that there may not be any beans in the
container at all.
4) The business objective is to maximize the return on
its investment. That is to find the most number of beans for the money it
invests. Therefore, the businesses only have to be better at guessing
beans than their competition. It does not require perfect information.
5) The successful business will be the firm that guesses
closest to the actual number of beans in this model. They will get all the
jellybeans and all the money invested in this exercise by all the businesses.
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