The Wisdom of Crowds - by James Surowiecki[Reading report] by Fleur d'Harcourt

2011-06-07

The author was part of the “Alternative Management” third year program in HEC in 2011.

Could a crowd be the best expert on a specific matter? Though we usually prefer to trust a single person whom we believe to be capable of dealing with the matter, James Surowiecki is willing to show how a group, organized as a crowd, is often able to give the best answer to a certain kind of problem, those concerning cognition, cooperation and coordination. The whole point is to find under which conditions the crowd becomes wise, so that they can be instituted and the wisdom of crowds becomes effective and efficient. Many examples are given in different fields. Once this wisdom of crowds has been proven, one can legitimate participative management which usually prevails in social economy.

Quote article  Fleur d'Harcourt, « The Wisdom of Crowds - by James Surowiecki », 07 june 2011, Alternative Management Observatory (AMO), [Reading report]
http://appli6.hec.fr/amo/Articles/Entry/Item/171.sls

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