When Social Influence Promotes the Wisdom of Crowds
نویسندگان
چکیده
منابع مشابه
Effects of Social Influence on the Wisdom of Crowds
Wisdom of crowds refers to the phenomenon that the aggregate prediction or forecast of a group of individuals can be surprisingly more accurate than most individuals in the group, and sometimes – than any of the individuals comprising it. This article models the impact of social influence on the wisdom of crowds. We build a minimalistic representation of individuals as Brownian particles couple...
متن کاملNetwork dynamics of social influence in the wisdom of crowds.
A longstanding problem in the social, biological, and computational sciences is to determine how groups of distributed individuals can form intelligent collective judgments. Since Galton's discovery of the "wisdom of crowds" [Galton F (1907) Nature 75:450-451], theories of collective intelligence have suggested that the accuracy of group judgments requires individuals to be either independent, ...
متن کاملThe Search for Peer Firms: When Do Crowds Provide Wisdom?
In knowledge-based economies, many businesses enterprises defy traditional industry boundaries. In this study, we evaluate six “big data” approaches to peer firm identifications and show that some, but not all, “wisdom-of-crowd” techniques perform exceptionally well. We propose an analytical framework for understanding when crowds can be expected to provide wisdom and show, theoretically and em...
متن کاملNäıve Learning in Social Networks and the Wisdom of Crowds
We study learning in a setting where agents receive independent noisy signals about the true value of a variable and then communicate in a network. They näıvely update beliefs by repeatedly taking weighted averages of neighbors’ opinions. We show that all opinions in a large society converge to the truth if and only if the influence of the most influential agent vanishes as the society grows. W...
متن کاملNaïve Learning in Social Networks and the Wisdom of Crowds
Social networks are primary conduits of information, opinions, and behaviors. They carry news about products, jobs, and various social programs; influence decisions to become educated, to smoke, and to commit crimes; and drive political opinions and attitudes toward other groups. In view of this, it is important to understand how beliefs and behaviors evolve over time, how this depends on the n...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2020
ISSN: 1556-5068
DOI: 10.2139/ssrn.3633309