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Wisdom of crowds (book)

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• TEDCred score: +0.40 TEDCred reflects your contribution to the TED community.

• A reply on Talk: Don Tapscott: Four principles for the open world

  Jun 29 2012: Whao! Brian Cox is on here!
  
  So, what would your conclusion have been??
  
  1

• A reply on Conversation: Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

  Jun 28 2012: it's called "Wisdom Of Crowds".. amazon has it.. u would be interested very much I's thinks

• A comment on Conversation: How many books have you read this year?

  Jun 28 2012: I can't read.. I'd rather watch Family Guy instead..
  
  Peter Griffin encompasses all the knowledge I need..
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  A comment on Conversation: can we reform the discussion surrounding gender inequality?

  Jun 27 2012: Beyond the blatant physical differences, women are said to make more use of their right hemisphere, men of the left..
  Plain logic has been the driving force behind the early industrial years.. now the tide is changing in the richest countries, imagination, creativity & empathy are all becoming more important.. (even by stock exchange measures!)
  
  I could be totally wrong, but I wonder if there's any correlation there?
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  A comment on Conversation: Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

  Jun 27 2012: Civilization is the product of crowds (crowds of crowds!!).
  
  If we were truly individual, every birth would re-start @ the stone-age every time..

• A reply on Conversation: Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

  Jun 27 2012: A crowd doesn't necessarily have those pre requisites, infact, unless it's been well organized, it most likely won't.
  
  It's a strange phenomena.. no less interesting to observe than 'synchronicity' for example.. However the concept isn't mainstream for some reason?
  
  Yes, if we all guessed the answer to how many sweets (or anything else) there was in a jar, the more people participate, the more likely the AVERAGE will be the best bet! Most people don't know that!
  
  However, if people share their guesses, the average result goes way off.. which explains why just taking any disorganized crowd is a aimless debate...
  
  I reckon you would enjoy reading the book Myfanwy!
  c u

• A reply on Conversation: Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

  Jun 26 2012: Hia,
  
  A great crowd would be one (according to the book) that is DIVERSE (as in not a specialised group of people such as just accountants or just children..)
  it would also have to be INDEPENDENT during the assessment (they don't share their information before congregating the info, the complete opposite of a jury).
  & finally DECENTRALIZED, not a crowd ordered about in a hierachical system..
  
  You can try it @ home lol : Get a big pot of sweets, get as many people as u can to assess how many there are in the pot (they must write it down, BUT NOT SHARE!!!) >> then count them urself, & make an average of the guesses ; According to theory the more participants u have, the more likely the average guess WILL BE CLOSER TO THE TRUTH than the best guess!!!
  
  Now is that not fascinating??

• A comment on Conversation: Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

  Jun 20 2012: Very interesting debate, however, most comments below seem to reflect the fact most are absolutely oblivious to the "Wisodom Of Crowds" as a phenomena.. pioneered by Sir Fancis Galton's findings at a fair!
  
  Sir Francis was himself convinced of what most are expressing below that crowds (and indeed the masses) were utterly unable to come to a good decision, with the examples of mobs, gangs etc.. He even went as far as denigrating democracy as a concept, however his findings that day changed his mind in an unexpected way...
  
  ^^ All this is in the book "The Wisdom Of Crowds" ..where it explains the key characteristics of a decision market :
  DIVERSITY, INDEPENDENCE & DECENTRALISATION
  
  >> the real key lies in satisfying these conditions.
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  A reply on Talk: Marco Tempest: The electric rise and fall of Nikola Tesla

  Jun 20 2012: While I totally endorse your idea that people like Marco should teach kids.. I think if u gave teachers huge money they'd be equally as bad, just richer & more arrogant than they already are!
  
  There has to be another way though, that's very true.
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  A comment on Conversation: Have Documentaries or Narrative Films had a bigger impact on you?

  Jun 18 2012: I think it's a very powerful thing to tell a story from the point of view of "I".. never mind how different ur life has been to someone else's, if u break it down into simple & honest chunks from ur own point of view, people will relate.. that connection is what makes narration so powerful. I think.