Wisdom of crowds pdf

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We identify general conditions under which influence, not independence, produces the most accurate judgments.

The Wisdom of Crowds Why the Many are Smarter than the Few

As a result, social influence is expected to undermine the wisdom of crowds.

The <u>wisdom</u> of <u>crowds</u> Predicting a weather and

The wisdom of crowds Predicting a weather and

By contrast, we show general network conditions under which social influence improves the accuracy of estimates, even as individual beliefs become more similar.

Harnessing the Wisdom of Crowds - University of Notre

Since Galton’s discovery of the “wisdom of crowds” [Galton F (1907) 0–451], theories of collective intellence have suggested that the accuracy of judgments requires individuals to be either independent, with uncorrelated beliefs, or diverse, with negatively correlated beliefs [Page S (2008) ].

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