Posts Tagged ‘Wisdom of the Crowd’

Wisdom of the Crowd posts
Does the wisdom of the crowd prove that stupid people cancel each other out?

Does the wisdom of the crowd prove that stupid people cancel each other out?

Between a BBC experiment and and anecdote from Francis Galton from a 1906 county fair, there is definitely a possibility that the wisdom of the crowd works well when it comes to making guesses. First, the county fair. An ox was on display and was the subject of a guessing contest. Whoever got closest to guessing the weight of the ox would get the slaughtered meat, a tremendous prize worth trying for today, let alone 100 years ago. While nobody got the weight right, when the guesses were averaged, they nailed it. When I watched the video below, my first thought was that had the silly person who guessed…

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