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The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group.
Trial by jury can be understood as at least partly relying on wisdom of the crowd, compared to bench trial which relies on one or a few experts. In politics, sometimes sortition is held as an example of what wisdom of the crowd would look like. Decision-making would happen by a diverse group instead of by a fairly homogenous political group or ...
James Surowiecki, in The Wisdom of Crowds (2004), takes a different view of crowd behavior, saying that under certain circumstances, crowds or groups may have better information and make better decisions than even the best-informed individual. [20] Canadian author Louise Penny used MacKay as an inspiration for her 2021 novel The Madness of ...
There is a class of problems where groups, where the wisdom of crowds is where averaging really works, and that's when the errors that people make are completely uncorrelated.
A crowd changes its level of emotional intensity over time, and therefore, can be classed in any one of the four types. Generally, researchers in crowd psychology have focused on the negative aspects of crowds, [11] but not all crowds are volatile or negative in nature. For example, in the beginning of the socialist movement crowds were asked ...
Harnessing the collective wisdom of people is an area of intense contemporary interest and cutting-edge research. The application of the term to methodologies that are designed to harness collective wisdom is credited to the work of Alexander Christakis and his group, [3] [4] As the challenges society faces today are of extreme complexities, the only solution is to develop technologies capable ...
The more editors participating the more we can trust the wisdom of the crowd and use the number of editors taking a position to determine the consensus. The more editors there are in a discussion, the more certainty there can be about the relative quality of the arguments presented.
Wisdom of the crowd is the collective perception of a group of people. Wisdom of the crowd may also refer to: The Wisdom of Crowds, a book by James Surowiecki; Wisdom of the Crowd, a TV series; The Wisdom of Crowds, a book of The Age of Madness trilogy by Joe Abercrombie