Wisdom of Crowds
This chapter presents the collective wisdom that emerges from the interactions of a large number of individuals, when certain conditions are met. It shows that the wisdom of crowds is already in large scale use all around us and analyzes the mechanisms that drive this phenomenon. It shows what conditions are required to make it work and why does it fail at times. The chapter ends by examining the connection between the wisdom of crowds and the representative form of government.
Wisdom of Crowds in Action
- Market Economy
- Science
- Open Source
- The Internet
Wisdom of Crowds Conditions
Wisdom of Crowds Mechanisms
Wisdom of Crowds Advantages
Wisdom of Crowds and Politics
