The Wisdom of Crowds (book)

"The Wisdom of Crowds" by James Surowiecki explores how groups of people can collectively make better decisions than individuals alone. When diverse, independent thinkers contribute their unique perspectives, the group's aggregated judgment often surpasses expert predictions. The book highlights conditions like diversity, independence, and decentralization as key to effective collective decision-making. It illustrates how crowd intelligence can be harnessed in various areas, fromMarkets to problem-solving, emphasizing that well-informed, diverse groups can achieve remarkable accuracy and insight when properly organized.