Beauty Contest means that the government asks all applicants to provide a plan how to build a network and manage their future telecom business. A plan typically includes things like: How many new jobs are created, what kind of services will be available and when, how much domestic products are used, how will less developed areas (rural areas) benefit from this, what kind of financial plan is in place to guarantee the success and avoid bankrupts etc. So government wants to decide what is best for the country, not who is willing to pay most.
