[LINK] Time to Think

[Birch, Jim]

>> ''Experts, no matter how smart, only have limited amounts of
information. They also have biases. It's very rare that one person can
know more than a large group of people.''

Nice idea, but does it work in practice?  Only with selected data
points.  If individuals have consistent biases - which they do - crowds
will too.  Crowds often get things wildly wrong too, think lynch mobs,
economic bubbles, xenophobia, etc, etc.  Crowdsourcing your wardrobe
might get you into a smart rig but crowdsourcing medical treatment for a
life-threatening disease? Sometimes a magic bullet, sometimes a bullet.

Crowds are great for ideas and comments but robust structured analysis
isn't typically a strong point.

Jim



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