How groups of people can outsmart experts

Channel:
United States Filet 64
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10,800
Published on ● Video Link: https://www.youtube.com/watch?v=enMCFep1s-4


Duration: 15:06
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The Wisdom of Crowds effect says the average of a group's guess can be more accurate than the guesses of the most intelligent individuals in the group. But does it actually work? And if so, how?

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Check out my Extra video where I analyze the data from this video in waaaaaaay more depth: https://youtu.be/RE-d8dXyhj0

Law of Small Numbers video https://youtu.be/HoMb4nKTZwg

View the spreadsheet of data: https://docs.google.com/spreadsheets/d/1VMEpyQu-NIva5awby2G8BfLiiikkfHK-xko6O-RZmyk/edit?usp=sharing

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Wisdom of crowds https://www.amazon.com/Wisdom-Crowds-TPublisher-Anchor/dp/B004X15XSG/ref=sr_1_3?keywords=wisdom+of+crowds&qid=1556808596&s=gateway&sr=8-3

Wikipedia Article https://en.wikipedia.org/wiki/The_Wisdom_of_Crowds

Thinking Fast and Slow https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374275637/ref=sr_1_2?keywords=thinking+fast+and+slow&qid=1556808622&s=gateway&sr=8-2

Predictably Irrational https://www.amazon.com/Predictably-Irrational-Hidden-Forces-Decisions/dp/0061854549/ref=sr_1_2?keywords=predictably+irrational&qid=1556808713&s=gateway&sr=8-2

Dan Ariely Article https://pdfs.semanticscholar.org/defc/951549389b9546d2db990093e6a9135f1437.pdf

Link to results in Google Sheets: https://docs.google.com/spreadsheets/d/1VMEpyQu-NIva5awby2G8BfLiiikkfHK-xko6O-RZmyk/edit?usp=sharing

Sour Pack Youtube channel: https://www.youtube.com/c/sourpack

"Poppers and Prosecco"
Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
http://creativecommons.org/licenses/by/3.0/

#mattmignogna #wisdomofcrowds



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Tags:
conjecture
conjecturevlog
Wisdom of Crowds
The Wisdom of Crowds
Science
Psychology
Statistics
Thinking Fast and Slow
Predictably Irrational
Wisdom of Crowds Conjecture