Posts Tagged ‘wisdom of crowds’

“Diversity helps because it actually adds perspectives that would otherwise be absent and because it takes away, or at least weakens, some of the destructive characteristics of group decision making.” “If you can assemble a diverse group of people who possess varying degrees of knowledge and insight, you’re better off entrusting it with major decisions […]

decision market


“A decision market is an elegant and well-designed method for capturing the collective wisdom. But the truth is that the specific method that one uses probably doesn’t matter very much. (…) The real key is not so much perfecting a particular method, but satisfying the conditions – diversity, independence and descentralization – that a group […]