New Economics Contest Series for 2023

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(Edited)

Hi Everyone,

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As 2022 draws to a close, it is time to say good bye to the Buying and Selling Game monthly contests. In 2023, we will start a new series. This series will be held monthly. It will be held in 10 of the 12 months. The remaining two months are reserved for the 2023 Economics Challenge Series. Each contest in the series will be unique. Some of the contests will be from previous challenge series and others will be completely new. Below is a list of the 10 contests.

Video

Below is a video describing the new contest series and the upcoming contests for 2023.

▶️ Watch on 3Speak

New Contests

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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

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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.

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Hive: Future of Social Media

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Spectrumecons on the Hive blockchain

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▶️ 3Speak

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11 comments
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The Christmas Contest 2022 seem the most exciting and I'm thinking you're going to post the contests rather separately right? Well I intend to see how this one goes. I think it's about time we say goodbye to the buying and selling games, and it's been massive, even If I didn't participate, I saw all the progress.
Well, I'm happy you're choosing to give the reward as powered hive. Everyone should be encouraged to keep their stakes I think, because it's the best time to build. I'm going to share this on my profile and Twitter, hopefully, I'll participate to the first game. Cheers to you, it's great to see another end of the year again.

@tipu curate

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Thanks @josediccus. It would be nice to see you participate.

Changing the reward to Hive Power feels like a logical step at this point. It is better for the blockchain and better for the winner in the long-run.

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Yes, exactly. It's better for the winner and even the chain, a win-win situation will be established for sure. Let's see how it goes.

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The hive power is a very good idea as prizes for the contest and I can't wait for the contest to take place come next year.

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These new contests do seem a lot more exciting and a tad more tricky😂
Especially the christmas present game, as you getting the optimal score may depend on whoever comments before and after you 😂
I'm feeling pumped up @spectrumecons 😃😀

The prize initiative is good too, thanks😗

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It definitely involves more luck than most other games.

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