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Harnessing the wisdom of the inner crowd

Type of publication Peer-reviewed
Publikationsform Original article (peer-reviewed)
Author Herzog Stefan M., Hertwig Ralph,
Project Dialectical bootstrapping:?A new paradigm to improve individual judgment
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Original article (peer-reviewed)

Journal Trends in Cognitive Sciences
Volume (Issue) 18(10)
Page(s) 504 - 506
Title of proceedings Trends in Cognitive Sciences
DOI 10.1016/j.tics.2014.06.009

Abstract

Ever since Galton's classic demonstration of the wisdom of crowds in estimating the weight of a slaughtered ox, scholars of the mind and the public alike have been fascinated by the counterintuitive accuracy achieved by simply averaging a number of people's estimates. Surprisingly, individuals can, to some extent, harness the wisdom of crowds within the confines of their own mind by averaging self-generated, nonredundant estimates.
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