Is that your final answer? Study suggests method for improving individual decisions
Tuesday, March 10, 2009 - 16:14
in Psychology & Sociology
Herd mentality. Angry mob. Mass hysteria. As these phrases suggest, we are not always confident that a large group of people will come up with the smartest decisions. So it may be surprising to learn that numerous studies have shown that a crowd of people usually gives more accurate responses to questions compared to a mere individual. Averaging the responses provided from a group increases accuracy by canceling out a number of errors made across the board (such as over- and under-estimating the answer).