The Wisdom of Crowds - Four elements required to form a wise crowd

[Owen Densmore]

At Friam today we discussed the Wisdom of Crowds book, and I mentioned the 4 requirements for a crowd to be wise.  Here's the story from Wikipedia:

    http://en.wikipedia.org/wiki/The_Wisdom_of_Crowds#Four_elements_required_to_form_a_wise_crowd

   -- Owen

According to Surowiecki, these key criteria separate wise crowds from irrational ones:

Criteria	Description
Diversity of opinion	Each person should have private information even if it's just an eccentric interpretation of the known facts.
Independence	People's opinions aren't determined by the opinions of those around them.
Decentralization	People are able to specialize and draw on local knowledge.
Aggregation	Some mechanism exists for turning private judgments into a collective decision.

============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
lectures, archives, unsubscribe, maps at http://www.friam.org

[scaganoff]

Interesting....I got these 5 rules from a book called “Honeybee Democracy” which came out of studies of how bee hives make decisions:

1. Compose the decision making of individuals with shared interests and mutual respect.
2. Minimise the leader’s influence on group thinking.
3. Seek diverse solutions to the problem.
4. Aggregate the group’s knowledge through debate.
5. Use quorum responses for cohesion, accuracy and speed.
   

Regards,
Saul

On 3 March 2012 15:59, Owen Densmore <[hidden email]> wrote:

At Friam today we discussed the Wisdom of Crowds book, and I mentioned the 4 requirements for a crowd to be wise.  Here's the story from Wikipedia:

    http://en.wikipedia.org/wiki/The_Wisdom_of_Crowds#Four_elements_required_to_form_a_wise_crowd

   -- Owen

According to Surowiecki, these key criteria separate wise crowds from irrational ones:

Criteria	Description
Diversity of opinion	Each person should have private information even if it's just an eccentric interpretation of the known facts.
Independence	People's opinions aren't determined by the opinions of those around them.
Decentralization	People are able to specialize and draw on local knowledge.
Aggregation	Some mechanism exists for turning private judgments into a collective decision.

============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
lectures, archives, unsubscribe, maps at http://www.friam.org

--
Saul Caganoff
Enterprise IT Architect
Mobile: [phone]
LinkedIn: http://www.linkedin.com/in/scaganoff

============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
lectures, archives, unsubscribe, maps at http://www.friam.org

[Nick Thompson]

Sounds like Occupy Santa Fe ….!  Not to mention the 4 tools of the Spanish Inquisition.

 

Actually, I don’t know what #5 is. 

 

6. …. Use hand signals?

 

 

Nick

 

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Saul Caganoff
Sent: Sunday, March 04, 2012 3:37 PM
To: The Friday Morning Applied Complexity Coffee Group
Subject: Re: [FRIAM] The Wisdom of Crowds - Four elements required to form a wise crowd

 

Interesting....I got these 5 rules from a book called “Honeybee Democracy” which came out of studies of how bee hives make decisions:

1. Compose the decision making of individuals with shared interests and mutual respect.
2. Minimise the leader’s influence on group thinking.
3. Seek diverse solutions to the problem.
4. Aggregate the group’s knowledge through debate.
5. Use quorum responses for cohesion, accuracy and speed.

Regards,
Saul

On 3 March 2012 15:59, Owen Densmore <[hidden email]> wrote:

At Friam today we discussed the Wisdom of Crowds book, and I mentioned the 4 requirements for a crowd to be wise.  Here's the story from Wikipedia:

    http://en.wikipedia.org/wiki/The_Wisdom_of_Crowds#Four_elements_required_to_form_a_wise_crowd

 

   -- Owen

According to Surowiecki, these key criteria separate wise crowds from irrational ones:

Criteria	Description
Diversity of opinion	Each person should have private information even if it's just an eccentric interpretation of the known facts.
Independence	People's opinions aren't determined by the opinions of those around them.
Decentralization	People are able to specialize and draw on local knowledge.
Aggregation	Some mechanism exists for turning private judgments into a collective decision.

============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
lectures, archives, unsubscribe, maps at http://www.friam.org

--
Saul Caganoff
Enterprise IT Architect
Mobile: [phone]
LinkedIn: http://www.linkedin.com/in/scaganoff

============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
lectures, archives, unsubscribe, maps at http://www.friam.org