"Wisdom of Crowds"

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	"Wisdom of Crowds"

chestnut501

9-26-2009 12:14 AM

454 views

tags:

sociology, research, people, problem-solving, diversity, independent-thinking, non-bias

chestnut501 says:

A fascinating phenomenon in social psychology.

4 Comments |

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9-26-2009 11:04 AM

mcsmithblack

Might be a bit difficult to find a "diverse and indepent" group. The two characteristics are getting a bit scarce.

9-26-2009 11:24 AM

blueridge

"follow the crowd"? Does not sound like the advise our parents used to give us.

9-27-2009 12:36 PM

vk2yoc

There was a guy recently claimed to use this principle to predict winning lotto numbers.

9-27-2009 8:02 PM

chestnut501

I think the "independent" group might have some problems getting unbiased members. They would probably be out buying lottery tickets because that's what everyone else was doing.

(see what I did there?

)

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The wisdom of crowds is the consistent finding that the averaged judgements of a <B>diverse</B> group of <B>independent</B> people will nearly always be more accurate than any single person's judgement, no matter how expert that individual is.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://bps-research-digest.blogspot.com/2009/09/derren-brown-purveyor-of-bad-science.html"> Note the emboldened words.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://bps-research-digest.blogspot.com/2009/09/derren-brown-purveyor-of-bad-science.html">The group must be diverse, with members having unique insights into the problem at hand. Group members must also be independent, in the sense that their own judgement is not contaminated or swayed by the opinions of others. In these conditions, the combined, diverse knowledge of a group of people can be effectively brought to bear on a problem. Judgements biased in one direction will be cancelled out by judgements biased in the other direction, as the group's combined verdict homes in on the truth.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/5D374AC7-012C-4887-BE98-71D6A14529AB/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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