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Collective Wisdom - Principles and Mechanisms (Paperback)
Loot Price: R1,170
Discovery Miles 11 700
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Collective Wisdom - Principles and Mechanisms (Paperback)
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James Madison wrote, 'Had every Athenian citizen been a Socrates,
every Athenian assembly would still have been a mob'. The
contributors to this volume discuss and for the most part challenge
this claim by considering conditions under which many minds can be
wiser than one. With backgrounds in economics, cognitive science,
political science, law and history, the authors consider
information markets, the internet, jury debates, democratic
deliberation and the use of diversity as mechanisms for improving
collective decisions. At the same time, they consider voter
irrationality and paradoxes of aggregation as possibly undermining
the wisdom of groups. Implicitly or explicitly, the volume also
offers guidance and warnings to institutional designers.
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