The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture
The Wisdom of Crowds: Why the Many Are 0375433627

The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture
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Random House

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978037543362

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The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture Specs:
Product NameThe Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture
ManufacturerRandom House
Product Number MPN0375433627
Retail Price $16.98
EAN-139780375433627
EAN-130978037543362
UPC978037543362
Specifications 
TitleThe Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture, The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations (Random House Large Print (Paper))
ISBN0375433627
Author(s)James Surowiecki
Release Date2004-05-25
FormatHardcover
Num of Pages640
Num. of Items1
EAN9780375433627
Dimensions8.74 x 5.88 x 1.33 in.
Weight2 lbs.
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Latest 6 Reviews
Here is what people are saying about the The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Politics,Business, Economies and Culture
4 Star Rating  "Fascinating Look at Decision Making"2009-09-20
- Reviewed By User: A1M542JUR652F1
A very interesting account as to how and why a diverse, uncoordinated independent group of people come up with the most correct decision, better than most "expert" individual answers. "As long as the group is diverse and independent enough, the errors people make effectively cancel themselves out, leaving you with the knowledge that the group has." Intuitively, it doesn't seem like this would be true, but Surowiecki does a good job of proving and explaining this phenomenon, made even more relevant in this "instant communication" Internet age. A good read.
 
2 Star Rating  "Cherry picked facts can prove any theory"2009-08-27
- Reviewed By ji_shi
The way the author organizes materials to prove his hypothesis is deeply flawed. This book mainly relies on some cherry picked facts or stories to prove its point. Facts are frequently stretched to be linked to the theme and incoherences are often ignored.

What this book is trying to prove to be good is actually what the author lacks, common sense.
 
4 Star Rating  "Value for money"2009-08-21
- Reviewed By User: A1CMA4CZT6YUM7
Very good book. Aproach to some topics is quite original and refreshing. Some findings really managed to suprise me. In general very interesting reading.
 
2 Star Rating  "Strange Book That States the Obviousness of Statistical Information"2009-06-18
- Reviewed By mediamemories
This book is nothing like its title suggests--it doesn't prove any type of "wisdom" in crowds. It merely reviews some stats and stories about collective wisdom and states obvious conclusions.

As intriguing as this may sound, the author gets off to the wrong start by claiming Who Wants to Be A Millionaire's audience lifeline as an example of the wisdom of crowds. It isn't--it's just an example of the fact that the more people you ask about trivia, the better chance you have of answering the question correctly.

He then makes silly conjectures based on Wall Street, presidential polls, NFL 4th down breakdowns (which has little to do with his theory since coaches don't make decisions as a group), monkeys, and other games. None of it really proves anything and is highly subjective and distorted.

He thinks the more people involved in decision-making the better. A better book would have reviewed how wrong groups can be, from race relations to Nazism to voting for bad candidates to simple group conduct in a bar on a Friday night. There is nothing in this book that proves any type of wisdom in crowds--instead it shows that if you want help with factual information, the more people you ask the better. What's the big deal about that conclusion? We already knew that!

It's worth looking at only from a curious academic standpoint. A couple questions that are raised are somewhat interesting but the author doesn't really answer them adequately. Great title, not a bad concept--just a poorly executed book.
 
4 Star Rating  "Get a second (third, fourth, fifth...) opinion before making a critical decision"2009-05-04
- Reviewed By User: A37GLNTRQ7HGAH
The greatest lesson I learned in business school is summed up in the statement, "Teams tend to make better decisions than individuals," - I have seen this axiom reinforced repeatedly in a variety of areas of life and work. So, it wasn't surprising to me that journalist and author James Surowiecki wrote a book titled - "Wisdom of Crowds" - which is focused on the premise that given proper circumstances, groups make better decisions than the smartest individual member. As identified by the author, the specific conditions that best facilitate this phenomenon are crowds comprised of appropriately diverse individuals who are also decentralized and independent. He further asserts that more often than not, this collection of conditions allows for sound decisions. Soundview recommends this book because its insight regarding the decision making ability of groups can be harnessed to solve difficult problems while fostering societal cooperation and coordination. Few can dispute that our economy, government and day-to-day lives are impacted by "crowd power," and Surowiecki's book helps explain that when problems occur its usually due to an absence of intelligent crowd criteria. So get a second (third, fourth and fifth) opinion before making a critical decision.
 
4 Star Rating  "What happens during Stampede and Rampage"2009-04-23
- Reviewed By User: AJS43VGQQ986
This is one great book and very intelligently written material. The classification is superb that helped me improve me understand another aspect of Social Science. Basically, I am Online Marketing expert who is new to the domain of Social Media. While doing my research about the psychology about Collective Intelligence (the term that my boss use to coin a lot many times), I came across this book.

One point that I think is not covered in the book is the response of the crowds during the Soccer matches, what happens during that time, what psychology is involved, why are rampage caused. Is that something out of scope. Well I don't think so.

Further, how are critical situations lead to stampede that involves crowds. There should have been some discussions about those aspects as well.

Otherwise, the material has helped me enhance my knowledge a lot. Thanks
 
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