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Wednesday, May 03, 2006

maxime ghislain zondo

I navigated through the website concerning the wisdom of crowds this article and i found out that there are some elements required to form or to destroy a wise crowd.
Four elements are essential to form a wise crowd. For example, diversity of opinion, when each person should have his private information. Independence, and decentralisation, when people opinions aren’t determined by the opinions of those around them and when people are able to specialize on local knowledge. The last one is aggregation, when some systems exist to turn private judgment into a common decision.
On the other hand the crowd can only do as well as its smartest member, rather than perform better. These are the elements for failures of crowd for being too centralized, too divided, and too imitative.

In my opinion not all crowds are wise, we have unwise crowd too. Although, all these dissensions, the crowds are characterized by collective experimental details. And the main reason is that people in the crowds are conform by the systematic flaw of making decisions

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