Key points are not available for this paper at this time.
One, Two, (Three), Infinity, ...: Newspaper and Lab Beauty-Contest Experiments by Antoni Bosch-Domènech, José G. Montalvo, Rosemarie Nagel and Albert Satorra. Published in volume 92, issue 5, pages 1687-1701 of American Economic Review, December 2002
Bosch‐Domènech et al. (Fri,) studied this question.