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Andy Bromberg: The wisdom of crowds is giving way to the “wisdom of communities.” In a world of ever-greater complexity, no one person can possibly make sense of all the signals and all the noise — from a single, static vantage point. A networked group is required to adapt to this new world... People are no longer being polled in isolation but... See more
future.a16z.com • 21 Experts on the Future of Expertise - Future
In the 50 years since Vernon Smith did his first experiment in [wisdom of crowds] and published the results, they have been replicated thousands of times in ever more complex variations. But the essential conclusion of those early tests has not been challenged : that, under the right conditions, imperfect humans can produce near-perfect results.
James Surowiecki • The Wisdom of Crowds
the wisdom of crowds - Google Search
google.comAs James Surowiecki explained in his best-selling The Wisdom of Crowds, this is the kind of task in which individuals do very poorly, but pools of individual judgments do remarkably well.