Blockchain, the technology underlying bitcoin, is coming to a back office, and clearing house, and bank, and front office near you. Instead of one authority keeping records, everyone will. That’s th...
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Peer2Politics
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on peer-to-peer dynamics in politics, the economy and organizations
Curated by
jean lievens
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When what Nobel Laureate Tim Hunt intended as an after dinner speech was made public he suffered the consequences, as have several others before him. 
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In 1907, Sir Francis Galton asked 787 villagers to guess the weight of an ox. None of them got the right answer, but when Galton averaged their guesses, he arrived at a near perfect estimate. This ...
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Congress in the JOBS Act provided an exemption from registration for certain crowdfunding offerings. The SEC has a rule proposal pending. The difficulty in this area is balancing the costs of investor protection against the impediments to capital raising. The issues are exacerbated by the limits ($1 million) on the size of any offering relying on the crowdfunding exemption.
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We need economic institutions that somehow promote the concerted creative actions of a wide swath of the world’s people, writes Robert Shiller
Francesco Muscianisi's curator insight,
December 1, 2014 12:28 PM
Schiller affronta il tema delle risorse da mettere in campo per fornire maggiori spunti di "saggezza della folla"...a partire dalle grandi multinazionali e le grandi imprese che dovrebbero supportare questo processo di cambiamento.
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My fascination with the concept of crowdsourcing started back in 2004, as it did for many who read James Surowiecki’s brilliant book “The Wisdom of Crowds.” The idea that the collective wisdom of a large group could prove superior to the expertise of individuals is powerful. It has been proven out to a great degree by experiments both large and small. However, for the longest time I wondered about the commercial aspects of collective wisdom. There’s no doubt that crowdsourcing has plenty of technical applications, from prediction markets to market intelligence. While there is certainly immense value to be found in those applications, I was more interested in how it would impact the small business economy. Fortunately, in the years since I was first introduced to the concept, countless solutions have emerged that can help small businesses and startups leverage the crowd to solve problems they face on a daily basis and punch well above their weight in the market.
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Tannah Gravelis's curator insight,
August 20, 2014 5:31 AM
This is a great source to begin understanding the concept of 'Collective Intelligence', as well as the other notions that are attributed to this idea, such as the idea of 'Collective Supidity' that is brought up in this article. Despite the fact that this source is reasonably credible, the tentative nature of this article seems to make it out to be more focused on evoking thought and discussion than being a definitive point of view on the subject. Nonetheless, the it still provides into the topic as a whole, and as such I would consider this a nice introductory piece.
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As we engage more with social networking sites, there is always the danger of a “group think” mentality–when people follow a group consensus rather than critically evaluate information; make decisions without guidance from the social network; or follow “gurus” who provide them with bad information. So how do we avoid these errors and maximize the “wisdom of the crowd”?
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A new study has explored whether crowd intelligence works equally as well regardless of the difficulty of the task being attempted.
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Since James Surowiecki his book on the wisdom of crowds back in 2005 the notion that collective intelligence can trump individual intelligence has entered the public consciousness. It has indelibly led to constructs such as idea markets, where organisations attempt to tap into the crowd for everything from stock picks to business ideas. -
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What is The Wisdom of Crowds? A documentary report all about The Wisdom of Crowds for the blind and visually impaired or for homework/assignment.
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From
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Having a USB port built into your electric outlet can be useful. But is it the greatest thing since sliced bread?
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David Edery, who was until recently part of the CMS staff and now works for Microsoft, has been generating some interesting discussion over on his blog, Game Tycoon, about how games might harness “the wisdom of crowds” to solve real world problems. It’s an idea he’s been promoting for some time but I only recently had a chance to read through all of his discussion. He starts by describing the growing academic interest that has been generated by James Surowiecki’s The Wisdom of Crowds and then suggesting some of the challenges of applying these concepts in a real world context: -
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A few weeks ago, I asked the internet to guess how many coins were in a huge jar (below). For more than 27 years, my parents had saved their spare change.
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Finding appropriate economic benchmarks for individual firms is a fundamental issue.
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If one asks a large enough number of people to guess the number of jelly beans in a jar, the averaged answer is likely to be very close to the correct number. True, occasionally someone may guess closer to the true number. But as you repeat the experiment, the same person never is better every time - the crowd is smarter than any individual. This finding is counterintuitive.
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Do you believe in the wisdom of crowds? Well, a Princeton study suggests less wisdom there than you might imagine.
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In this (virtual) experiment, (virtual) people are asked to estimate the number of (virtual) gumballs placed into a (virtual) transparent jar. This experiment is repeated 100 times with a given number of people (set by 'Number of tested people').
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In his 1937 book, "Think and Grow Rich," author Napoleon Hill identified 13 steps to success, one of which was the power of the mastermind. "No two minds ever come together without thereby creating a third, invisible, intangible force, which may be likened to a third mind," Hill wrote.
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The conceptual artist Grayson Perry entitled the first instalment in his Reith Lecture series “Democracy Has Bad Taste”. This was a provocation based on the idea that popularity and stylistic excellence can be mutually exclusive. The people may not know what's good for them. It is directly anantithetical to the wisdom of crowds, a theory first aired a decade ago which proposed that collective decisions are more reliable than those made by individuals. In other words, democracy has good taste.
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One of the hottest topics for leading thinkers on work and well-being is flexible and remote working. Five years ago it seemed like the future - organisations adopting new technologies to enable employees to work from home, on the commute, and not have a traditional space termed the office. The flexible working debate has changed in the past 12 months however, and the victory of new technologies for remote working is no longer the expected fait accompli that it has been. Suprisingly, the businesses leading the change of heart on the future of the workplace have been technology firms - with Yahoo, and most recently Hewlett Packard 'banning' their employees from home working.
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