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Keynes used it as the basis of his "beauty contest" theory of investing.
Shiller, in showing that the stock market bounced up and down a lot more than could be justified on the basis of economic fundamentals such as earnings and dividends, kept alive the more skeptical and realistic view of finance that Keynes had embodied in his "beauty contest" theory of investing.
Since our model fits very well the cooperation and competition in team sports, we hope that it can be potentially applied in measuring the values of players in team sports, say help people give more objective ranking of NBA players and select MVPs, and consequently bring new insights into contest theory and the more general field of sports economics.
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The contest, in theory, is unfinished.
Now, some experts contest the theory's merit.
A nomination race is a delegate-counting contest in theory, but if at all possible, the nominee is picked by consensus, with influential party leaders nudging the process along if it seems to go astray.
CCA intima-media thickness (IMT) measurements are considered a strong predictor of future vascular events and a surrogate marker of atherosclerosis [ 3- 5], although there are some recent studies that contest this theory [ 6, 7].
In Citizens United the court overturned the earlier decision, which allowed limits on corporate spending in political contests under the theory that such spending distorted the information available to voters.
The professors challenge us to formulate our own opinions on cases and theory, to contest theirs and to rebut each other's, which in a group of 90 can lead to both heated debates and hilarious verbal tussles.
In the London contest that could, in theory open the contest to more than five million people, if all the city's voters chose to take part.
"I was surprised more people did not try to contest Nerdrum's Kitsch theory at the conference".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com