Wisdom of Crowds (concept)

The "Wisdom of Crowds" is the idea that a large group of people can often make better decisions or predictions than individuals, even experts. When diverse opinions are combined, errors tend to cancel out, leading to more accurate results. For example, multiple guesses about a number or the outcome of an event often cluster close to the correct answer. This phenomenon relies on the independence, diversity, and aggregation of individual judgments, demonstrating that collective intelligence can be surprisingly reliable when correctly harnessed.