Wisdom of Crowds

“An intelligent group, especially when confronted with cognition problems, does not ask its members to modify their positions in order to let the group reach a decision everyone can be happy with. Instead, it figures out how to use mechanisms – like market prices, or intelligent voting systems – to aggregate and produce collective judgements that represent not what any one person in a group thinks but rather, in some sense, what they all think. Paradoxically, the best way for a group to be smart is for each person in it to think and act as independently as possible.”

– Wisdom of Crowds, James Surowiecki

Leave a Comment