2014
DOI: 10.1016/j.tics.2014.06.009
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Harnessing the wisdom of the inner crowd

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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Cited by 70 publications
(61 citation statements)
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“…Whether and when strategy selection or strategy blending is more accurate is a more complex issue. To appreciate the conditions under which blending strategies improves or decreases accuracy relative to selecting a strategy, it is useful to view blending strategies as applying the concept of the “wisdom of crowds” (Page, ; Surowiecki, ) to a single mind (Herzog & Hertwig, ). Blending estimates or decisions from different people or algorithms, and the conditions under which blending enhances or decreases accuracy, has been discussed in fields ranging from psychology and cognitive science to judgment and decision making, management science, economics, biology, statistics, artificial intelligence, and machine learning (e.g., Armstrong, ; Brown, Wyatt, Harris, & Yao, ; Davis‐Stober, Budescu, Dana, & Broomell, ; Grofman, Owen, & Feld, ; Hastie & Kameda, ; J. Krause, Ruxton, & Krause, ; Kuncheva, ; Larrick & Soll, ; Larrick, Mannes, & Soll, ; Lee, Zhang, & Shi, ; Luan, Katsikopoulos, & Reimer, ; Marling, Sqalli, Rissland, Munoz‐Avila, & Aha, ; Page, ; Timmermann, ).…”
Section: Strategy Selection Versus Strategy Blending: a Normative Permentioning
confidence: 99%
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“…Whether and when strategy selection or strategy blending is more accurate is a more complex issue. To appreciate the conditions under which blending strategies improves or decreases accuracy relative to selecting a strategy, it is useful to view blending strategies as applying the concept of the “wisdom of crowds” (Page, ; Surowiecki, ) to a single mind (Herzog & Hertwig, ). Blending estimates or decisions from different people or algorithms, and the conditions under which blending enhances or decreases accuracy, has been discussed in fields ranging from psychology and cognitive science to judgment and decision making, management science, economics, biology, statistics, artificial intelligence, and machine learning (e.g., Armstrong, ; Brown, Wyatt, Harris, & Yao, ; Davis‐Stober, Budescu, Dana, & Broomell, ; Grofman, Owen, & Feld, ; Hastie & Kameda, ; J. Krause, Ruxton, & Krause, ; Kuncheva, ; Larrick & Soll, ; Larrick, Mannes, & Soll, ; Lee, Zhang, & Shi, ; Luan, Katsikopoulos, & Reimer, ; Marling, Sqalli, Rissland, Munoz‐Avila, & Aha, ; Page, ; Timmermann, ).…”
Section: Strategy Selection Versus Strategy Blending: a Normative Permentioning
confidence: 99%
“…Blending estimates or decisions from different people or algorithms, and the conditions under which blending enhances or decreases accuracy, has been discussed in fields ranging from psychology and cognitive science to judgment and decision making, management science, economics, biology, statistics, artificial intelligence, and machine learning (e.g., Armstrong, ; Brown, Wyatt, Harris, & Yao, ; Davis‐Stober, Budescu, Dana, & Broomell, ; Grofman, Owen, & Feld, ; Hastie & Kameda, ; J. Krause, Ruxton, & Krause, ; Kuncheva, ; Larrick & Soll, ; Larrick, Mannes, & Soll, ; Lee, Zhang, & Shi, ; Luan, Katsikopoulos, & Reimer, ; Marling, Sqalli, Rissland, Munoz‐Avila, & Aha, ; Page, ; Timmermann, ). More recently, the study of the wisdom of crowds has been extended to the “inner crowd” (Herzog & Hertwig, ), where several judgments from the same person are blended (Herzog & Hertwig, , ; Vul & Pashler, ).…”
Section: Strategy Selection Versus Strategy Blending: a Normative Permentioning
confidence: 99%
“…In a similar way, radiologists could use this approach for low-confidence diagnoses. Our results, combined with the research on the wisdom of the inner crowd [43,44], suggest that it is beneficial to deliberately reconsider low-confidence decisions, and then, if two decisions are inconsistent, to apply the confidence rule.…”
Section: Discussionmentioning
confidence: 66%
“…First, to reduce inconsistency and thus improve accuracy, previous perspectives suggest the use of interventions and methods that improve the overall reliability of information processing, such as reducing the amount of information presented [40], decomposing a complex task into smaller subtasks [41,42], combining an individual's repeated judgments [43][44][45], or requiring individuals to justify their judgments [46,47]. Our perspective suggests a different, but complemen-tary approach to improving accuracy, namely, encouraging experts to make a second assessment whenever their initial decision was low in confidence and to then apply the confidence rule across the two decisions.…”
Section: Discussionmentioning
confidence: 99%
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