The wisdom of crowds : why the many are smarter than the few

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Title:

The wisdom of crowds : why the many are smarter than the few

Author:

Surowiecki, James, 1967-

ISBN:

9780349116051

Personal Author:

Surowiecki, James, 1967-

Publication Information:

London : Abacus, 2005.

Physical Description:

xxi, 295 pages ; 20 cm

General Note:

Originally published: London: Little, Brown, 2004.

Contents:

The Wisdom of Crowds -- The Difference Difference Makers: Waggle Dances, the Bay of Pigs, and the Value of Diversity -- Monkey See, Monkey Do: Imitation, Information Cascades, and Independence -- Putting the Pieces Together: The CIA, Linux, and the Art of Decentralization -- Shall We Dance?: Coordination in a Complex World -- Society Does Exist: Taxes, Tipping, Television, and Trust -- Traffic: What We Have Here Is a Failure to Coordinate -- Science: Collaboration, Competition, and Reputation -- Committees, Juries, and Teams: The Columbia Disaster and How Small Groups Can Be Made to Work -- The Company: Meet the New Boss, Same as the Old Boss? -- Markets: Beauty Contests, Bowling Alleys, and Stock Prices -- Democracy: Dreams of the Common Good.

Abstract:

Decisions taken by a large group, even if the individuals within the group aren't smart, are always better than decisions made by small numbers of 'experts'. Surowiecki ranges across several disciplines to show just how this principle operates in the real world and the ramifications of this seemingly simple notion.

Subject Term:

Consensus (Social sciences)

Common good.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:VGCT	1:GEN-BOOK	000035304	303.38 SUR	1	Searching... Unknown
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Summary

In this landmark work, NEW YORKER columnist James Surowiecki explores a seemingly counter-intuitive idea that has profound implications. Decisions taken by a large group, even if the individuals within the group aren't smart, are always better than decisions made by small numbers of 'experts'. This seemingly simply notion has endless and major ramifications for how businesses operate, how knowledge is advanced, how economies are (or should be) organised and how nation-states fare. With great erudition, Surowiecki ranges across the disciplines of psychology, economics, statistics and history to show just how this principle operates in the real world. Along the way Surowiecki asks a number of intriguing questions about a subject few of us actually understand - economics. What are prices? How does money work? Why do we have corporations? Does advertising work? His answers, rendered in a delightfully clear prose, demystify daunting prospects. As Surowiecki writes: 'The hero of this book is, in a curious sense, an idea, a hero whose story ends up shedding dramatic new light on the landscapes of business, politics and society'.