Wisdom of the crowd

The wisdom of the crowd is the collective opinion of a group of individuals rather than that of a single expert. This process, while not new to the Information Age, has been pushed into the mainstream spotlight by social information sites such as Quora, Stack Exchange, Wikipedia, Yahoo! Answers, and other web resources that rely on collective human knowledge. An explanation for this phenomenon is that there is idiosyncratic noise associated with each individual judgment, and taking the average over a large number of responses will go some way toward canceling the effect of this noise.

Wisdom of the crowd

The wisdom of the crowd is the collective opinion of a group of individuals rather than that of a single expert. This process, while not new to the Information Age, has been pushed into the mainstream spotlight by social information sites such as Quora, Stack Exchange, Wikipedia, Yahoo! Answers, and other web resources that rely on collective human knowledge. An explanation for this phenomenon is that there is idiosyncratic noise associated with each individual judgment, and taking the average over a large number of responses will go some way toward canceling the effect of this noise.