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Jelly Bean Game:  Explain the Process

 

  • "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.

  • 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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