Literature DB >> 33544255

How the wisdom of crowds, and of the crowd within, are affected by expertise.

Joshua L Fiechter1, Nate Kornell2.   

Abstract

We investigated the effect of expertise on the wisdom of crowds. Participants completed 60 trials of a numerical estimation task, during which they saw 50-100 asterisks and were asked to estimate how many stars they had just seen. Experiment 1 established that both inner- and outer-crowd wisdom extended to our novel task: Single responses alone were less accurate than responses aggregated across a single participant (showing inner-crowd wisdom) and responses aggregated across different participants were even more accurate (showing outer-crowd wisdom). In Experiment 2, prior to beginning the critical trials, participants did 12 practice trials with feedback, which greatly increased their accuracy. There was a benefit of outer-crowd wisdom relative to a single estimate. There was no inner-crowd wisdom effect, however; with high accuracy came highly restricted variance, and aggregating insufficiently varying responses is not beneficial. Our data suggest that experts give almost the same answer every time they are asked and so they should consult the outer crowd rather than solicit multiple estimates from themselves.

Entities:  

Year:  2021        PMID: 33544255      PMCID: PMC7865038          DOI: 10.1186/s41235-021-00273-6

Source DB:  PubMed          Journal:  Cogn Res Princ Implic        ISSN: 2365-7464


  22 in total

1.  The wisdom of the crowd in combinatorial problems.

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2.  Psychological strategies for winning a geopolitical forecasting tournament.

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Journal:  Psychol Sci       Date:  2014-03-21

3.  Groups of diverse problem solvers can outperform groups of high-ability problem solvers.

Authors:  Lu Hong; Scott E Page
Journal:  Proc Natl Acad Sci U S A       Date:  2004-11-08       Impact factor: 11.205

4.  The wisdom of many in one mind: improving individual judgments with dialectical bootstrapping.

Authors:  Stefan M Herzog; Ralph Hertwig
Journal:  Psychol Sci       Date:  2009-01-08

5.  Bayesian hypothesis testing for psychologists: a tutorial on the Savage-Dickey method.

Authors:  Eric-Jan Wagenmakers; Tom Lodewyckx; Himanshu Kuriyal; Raoul Grasman
Journal:  Cogn Psychol       Date:  2010-01-12       Impact factor: 3.468

6.  Think twice and then: combining or choosing in dialectical bootstrapping?

Authors:  Stefan M Herzog; Ralph Hertwig
Journal:  J Exp Psychol Learn Mem Cogn       Date:  2013-09-09       Impact factor: 3.051

7.  Harnessing the wisdom of the inner crowd.

Authors:  Stefan M Herzog; Ralph Hertwig
Journal:  Trends Cogn Sci       Date:  2014-10       Impact factor: 20.229

8.  Single judgments of numerosity.

Authors:  L E Krueger
Journal:  Percept Psychophys       Date:  1982-02

9.  Perceived numerosity: a comparison of magnitude production, magnitude estimation, and discrimination judgments.

Authors:  L E Krueger
Journal:  Percept Psychophys       Date:  1984-06

10.  Knowing the crowd within: Metacognitive limits on combining multiple judgments.

Authors:  Scott H Fraundorf; Aaron S Benjamin
Journal:  J Mem Lang       Date:  2014-02       Impact factor: 3.059

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  1 in total

1.  A simple cognitive method to improve the prediction of matters of taste by exploiting the within-person wisdom-of-crowd effect.

Authors:  Itsuki Fujisaki; Hidehito Honda; Kazuhiro Ueda
Journal:  Sci Rep       Date:  2022-07-20       Impact factor: 4.996

  1 in total

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