Since the beginning of human history, people have made wagers with one another on events. Organized and impersonal betting markets have a long history. Just as prices from markets for products inform us about the relative degree of scarcity, data from …

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… a neat trick invoking the “crowd wisdom” theory of statistician Francis Galton …

Newswise — In 1907, a statistician named Francis Galton recorded the entries from a weight-judging competition as people guessed the weight of an ox. Galton analyzed hundreds of estimates and found that while individual guesses varied wildly, the median of …

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… general answer to that question. Crowd wisdom works because people’s mistakes …

… . by the Office of Communications Crowd wisdom such as what might arise … published the seminal paper in crowd wisdom, Sir Francis Galton's … solution to the single-question crowd wisdom problem," was published Jan …

… to outguess the expert few. Crowd wisdom is often cited as the … general answer to that question. Crowd wisdom works because people's …

… solution to the single-question crowd wisdom problem," is being published … answer. "A lot of crowd wisdom weights people equally," McCoy … solution to the single-question crowd wisdom problem," Nature, nature.com …

… frequently quoted example of the crowd wisdom phenomenon comes from a 1987 … .” Lee's group approaches crowd wisdom research as a cognitive modeling …