On Wisdom of Crowds

CoinSheet #234

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.

Charles MacKay

On Wisdom of Crowds

Today I want to talk about the theme of “wisdom of crowds” (which was the title of a book by James Suroweicki).

James wrote about how the average of a large number of forecasts r…

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