Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/74412
Type: | Conference paper |
Title: | Expertise and the wisdom of crowds: Whose judgments to trust and when |
Author: | Welsh, M. |
Citation: | Building bridges across cognitive sciences around the world: Proceedings of the 34th Annual Meeting of the Cognitive Science Society, Sapporo, Japan, August 1-4, 2012 / N. Miyake, D. Peeble, R. P. Cooper (eds.): pp.1131-1136 |
Publisher: | Cognitive Science Society |
Publisher Place: | online |
Issue Date: | 2012 |
ISBN: | 9780976831884 |
Conference Name: | Annual Conference of the Cognitive Science Society (34th : 2012 : Sapporo, Japan) |
Department: | Faculty of Engineering, Computer & Mathematical Sciences |
Organisation: | Institute for Mineral and Energy Resources |
Statement of Responsibility: | Matthew B. Welsh |
Abstract: | The Wisdom of Crowds describes the fact that aggregating a group’s estimate regarding unknown values is often a better strategy than selecting even an expert’s opinion. The efficacy of this strategy, however, depends on biases being nonsystematic and everyone being able to make a meaningful assessment. In situations where these conditions do not hold, expertise seems more likely to produce the best outcome. Amateurs and professional judgments are examined in a subjective domain – reviews of shows from an Arts festival – asking which group provides better information to the potential theatre-goer. In conclusion, while following the crowd produces good results, where a smaller number of reviews are available, taking expertise into account improves their usefulness and discrimination between shows. |
Keywords: | Expertise Wisdom of Crowds subjective judgment. |
Rights: | © The authors |
Appears in Collections: | Aurora harvest 4 Australian School of Petroleum publications |
Files in This Item:
File | Description | Size | Format | |
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hdl_74412.pdf | Published version | 208.99 kB | Adobe PDF | View/Open |
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