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Collective Wisdom: Principles and Mechanisms

Collective Wisdom: Principles and Mechanisms

Paperback

General Political Science

ISBN10: 1107630274
ISBN13: 9781107630277
Publisher: Cambridge University Press
Published: May 1 2014
Pages: 420
Weight: 1.41
Height: 0.93 Width: 6.14 Depth: 9.21
Language: English
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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General Political Science