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User Review  - Razinha - LibraryThing

Excellent book, but then it fits with a confirmation bias and I was primed for it, as I do this all the time in my design meetings - I like to fill the room with brains, because while I have great ... Read full review

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If you have been afraid to read this book for fear of running into ideas that fall prey to the sharpshooter heuristic, your fears are founded. However, despite some bad arguments, this book was far more balanced that I imagined it would be. In truth, it should be titled The Wisdom and Stupidity of Crowds: Parsing out What Makes Groupthink More or Less Effective." It had a lot of interesting little tidbits of knowledge that were new for me. Because of this, I would recommend this book to anyone who is capable of sifting out anecdotal stories and focusing on the parts that were far more informative and fact-based. 

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This is one of the three books everyone who is trying to understand Google should read.

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It was good.

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informative and well-written, this book examines the peculiar ability of a large group of people to arrive at answers as good as even better than the average and almost as good as the best among them. this characteristic is what makes markets work - when they do. surowiecki makes a stab at the essentials that govern what kind of problems a "crowd" as suited to solve, and the makeup of a "crowd" that seems to give the best results. three general classes of problems suited to crowds are identified: cognition, coordination and cooperation problems. the factors driving solution are identified as diversity, independence, decentralization and a means by which collective wisdom can be aggregated. surowiecki draws primarily from behavioural economics and psychology to support his claims.
the first half of the book keeps to the theory while the second half deals with an interesting range of applications: traffic, scientific research (issues with competition and collaboration), small group dynamics (committees, the phenomena of group think), the oddity of the company (ronald coase's transaction costs, organizational pathologies), financial markets (the phenomena of herd mentality) and democracy. the chapters on small groups, the company and markets were particularly insightful.
 

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