wisdom of crowds
The "wisdom of crowds" refers to the collective decision-making ability or intelligence that emerges when a diverse group of individuals independently share their opinions or estimates on a particular topic, leading to a more accurate and superior outcome compared to an individual's judgment.
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Related Concepts (21)
- behavioral economics
- collaborative filtering
- collective intelligence
- consensus-based decision-making
- crowd psychology
- crowd sourcing
- crowd wisdom
- crowdsourcing
- deliberative democracy
- expertise recognition
- group decision-making
- herding behavior
- information cascades
- knowledge diffusion
- market wisdom
- network theory
- opinion aggregation
- peer influence
- public opinion
- social dynamics
- swarm intelligence
Similar Concepts
- ad populum
- appeal to expert consensus
- crowd labor
- crowdsourced content production
- crowdsourced creativity
- crowdsourced data collection
- crowdsourced decision-making
- crowdsourced funding
- crowdsourced innovation
- crowdsourced testing
- crowdsourcing and open innovation
- herd mentality
- proverbs and oral wisdom
- shepard and herd mentality
- wisdom