Asked by Rashida Barry on Sep 29, 2024
Studies of the "wisdom of crowd" effect suggest that
A) groups are particularly effective when working on extremely difficult problems.
B) once the group reaches 5 members,it reaches its maximum level of "wisdom".
C) making decisions by averaging individuals judgments is,in some cases,both efficient and accurate.
D) the "crowd" members,to become accurate,must initially discuss the issue among members.
Wisdom of Crowd
The collective opinion of a group of individuals rather than that of a single expert, often leading to more accurate conclusions or predictions.
Averaging Judgments
The method of combining multiple opinions or estimates to produce a single, more reliable judgment, often used in decision-making processes.
- Understand the role of individual contributions and motivations in collective tasks.
Learning Objectives
- Understand the role of individual contributions and motivations in collective tasks.