by James Surowiecki · 1 Jan 2004 · 326pp · 106,053 words
THE WISDOM OF CROWDS WHY THE MANY ARE SMARTER THAN THE FEW AND HOW COLLECTIVE WISDOM SHAPES BUSINESS, ECONOMIES, SOCIETIES, AND NATIONS JAMES SUROWIECKI DOUBLEDAY New York London Toronto Sydney Auckland CONTENTS Cover Page Title Page Dedication Introduction PART I 1. The Wisdom of Crowds 2. The Difference Difference
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social influence, as a way of explaining herding behavior. A longer account of William Sellers’s campaign to standardize the screw can be found in James Surowiecki, “Turn of the Century,” Wired 10.01 (January 2002), http://www.wired.com/wired/archive/10.01/standards_pr.html. A definitive account of the
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this book was talking regularly to Chris. I hope we can start doing that again. This is for my mom and dad. ABOUT THE AUTHOR JAMES SUROWIECKI is a staff writer at The New Yorker, where he writes the popular business column, “The Financial Page.” His work has appeared in a wide
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Surowiecki, James, 1967– The wisdom of crowds : why the many are smarter than the few and how collective wisdom shapes business, economies, societies, and nations / James Surowiecki. p. cm. Includes bibliographical references. 1. Consensus (Social sciences) 2. Common good. I. Title. JC328.2.S87 2003 303.3'8—dc22 2003070095 eISBN 0
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-307-27505-1 Copyright © 2004 by James Surowiecki All Rights Reserved www.anchorbooks.com v1.0 THE WISDOM OF CROWDS WHY THE MANY ARE SMARTER THAN THE FEW AND HOW COLLECTIVE WISDOM SHAPES
by W. David Marx · 18 Nov 2025 · 642pp · 142,332 words
make us free. As political gridlock thwarted Obama’s domestic agenda, such technocratic market solutions became an attractive alternative. Books like New Yorker staff writer James Surowiecki’s The Wisdom of Crowds argued that large groups made better decisions than elites, mirroring the internet’s participatory nature. His colleague Malcolm Gladwell’s
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, 2022, https://www.brookings.edu/articles/how-middle-eastern-conflicts-are-playing-out-on-social-media. GO TO NOTE REFERENCE IN TEXT missing Brown student: James Surowiecki, “The Wise Way to Crowdsource a Manhunt,” New Yorker, April 23, 2013, https://www.newyorker.com/news/daily-comment/the-wise-way-to-crowdsource-a
by Danny Funt · 20 Jan 2026 · 285pp · 100,897 words
,” odds are informed by betting patterns at sportsbooks around the world. If that still sounds beatable, you’ve likely not had the pleasure of reading James Surowiecki’s The Wisdom of Crowds, which explains how markets, by distilling the opinions of diverse groups of people, are extraordinarily hard for any individual to
by Jimmy Wales · 28 Oct 2025 · 216pp · 60,419 words
was astonishingly close to the actual weight of 1,198 pounds. In 2006, the tale of Galton and his ox opened a new book by James Surowiecki that went on to become an enormous bestseller, and the book’s title—The Wisdom of Crowds—suddenly became shorthand for an old but critical
by Michael J. Mauboussin · 1 Jan 2006 · 348pp · 83,490 words
are efficient at uncovering and aggregating diverse pieces of information. And it doesn’t seem to matter much what markets are being used to predict. —James Surowiecki, “Damn the Slam PAM Plan!” The Accuracy of Crowds Most investors do not associate group behavior with sparkling outcomes. An Amazon book review crows that
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, 2002), 716-29. 6 Gawande, Complications, 44. 7 Katie Haffner, “In an Ancient Game, Computing’s Future,” The New York Times, August 1, 2002. 8 James Surowiecki, The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations (New York: Doubleday
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://www.asap.cs.nott.ac.uk/publications/pdf/gk_ai99.pdf. 5 See Iowa Electronic Markets Web site, http://www.biz.uiowa.edu/iem. 6 James Surowiecki, “Decisions, Decisions,” The New Yorker, March 28, 2003, available from http://www.newyorker.com/archive/2003/03/24/030324ta_talk_surowiecki. 7 See Hollywood Stock
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); see http://www.hpl.hp.com/research/idl/projects/shock. 4 Francis Galton, “Vox Populi,” Nature 75 (March 7, 1907): 450-451; reprint, 1949. Also, James Surowiecki, The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations (New York: Random
by Thomas W. Malone · 14 May 2018 · 344pp · 104,077 words
have been possible without the fast, cheap communication enabled by modern information technologies. THE WISDOM-OF-CROWDS EFFECT In his book The Wisdom of Crowds, James Surowiecki popularized another reason why large groups can be smarter than small ones.9 He tells the story of the English statistician Sir Francis Galton, who
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Moro, Alex Pentland, and Iyad Rahwan, “Limits of Social Mobilization,” Proceedings of the National Academy of Sciences 110, no. 16 (2013): 6,281–86. 9. James Surowiecki, The Wisdom of Crowds (New York: Doubleday, 2004). 10. Andrew J. King and Guy Cowlishaw, “When to Use Social Information: The Advantage of Large Group
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29, 2017, https://www.nytimes.com/2017/08/29/business/economy/home-health-care-work.html. 11. Autor, “Why Are There Still So Many Jobs?”; James Surowiecki, “The Great Tech Panic: Robots Won’t Take All Our Jobs,” Wired, September 2017, https://www.wired.com/2017/08/robots-will-not-take-your
by Dani Rodrik · 8 Oct 2017 · 322pp · 87,181 words
used their influence to advance an agenda that was broadly in the national interest. By contrast, today’s super-rich are “moaning moguls,” to use James Surowiecki’s evocative term.27 Exhibit A for Surowiecki is Stephen Schwarzman, the chairman and CEO of the private equity firm the Blackstone Group, whose wealth
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. 25. Calomiris and Haber, Fragile by Design. 26. Mark S. Mizruchi, The Fracturing of the American Corporate Elite, Harvard University Press, Cambridge, MA, 2013. 27. James Surowiecki, “Moaning Moguls,” The New Yorker, July 7, 2014, http://www.newyorker.com/magazine/2014/07/07/moaning-moguls. 28. For a good discussion of how
by Michael Nielsen · 2 Oct 2011 · 400pp · 94,847 words
metaphor of the collective brain. Many books and magazine articles have been written about collective intelligence. Perhaps the best-known example of this work is James Surowiecki’s 2004 book The Wisdom of Crowds, which explains how large groups of people can sometimes perform surprisingly well at problem solving. Surowiecki opens his
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of civility). Similar problems also afflict offline groups, and much has been written about the problems and how to overcome them—including books such as James Surowiecki’s The Wisdom of Crowds, Cass Sunstein’s Infotopia, and many other books about business and organizational behavior. While these practical problems are important, they
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and Karim Lakhani’s fascinating account [87] of the Mathworks programming competition. Limits to collective intelligence: Informative summaries are Cass Sunstein’s Infotopia [212] and James Surowiecki’s The Wisdom of Crowds [214]. Classic texts include Charles Mackay’s Extraordinary Popular Delusions and the Madness of Crowds, first published in 1841, and
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. The sheer number of ideas, the complexity, and the contribution it has made to chess make it the most important game ever played.” p 19: James Surowiecki, The Wisdom of Crowds, [214]. p 20: Nicholas Carr’s book The Shallows [35] is an expanded version of an earlier article, “Is Google Making
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. Infotopia: How Many Minds Produce Knowledge. New York: Oxford University Press, 2006. [213] Cass R. Sunstein. Republic.com 2.0. Princeton University Press, 2007. [214] James Surowiecki. The Wisdom of Crowds. New York: Doubleday, 2004. [215] Don R. Swanson. Migraine and magnesium: Eleven neglected connections. Perspectives in Biology and Medicine, 31(4
by Sinan Aral · 14 Sep 2020 · 475pp · 134,707 words
real. Paradoxically, the best way for a group to be smart is for each person in it to think and act as independently as possible. —JAMES SUROWIECKI Interdependence is and ought to be as much the ideal of man as self-sufficiency. Man is a social being. —MOHANDAS GANDHI In his influential
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book The Wisdom of Crowds, James Surowiecki described the power of collective judgment to solve many of humanity’s most challenging problems, from prediction, to innovation, to governance, to strategic decision making
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or another, eliminating its ability to cancel out errors. Online rating bias and Google Flu Trends are potent examples of this pathology. To his credit, James Surowiecki, the author of The Wisdom of Crowds, acknowledged that humans are “social beings.” “We want to learn from each other and learning is a social
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Social Influence and Political Mobilization,” Nature 489, no. 7415 (2012): 295. Chapter 10: The Wisdom and Madness of Crowds power of collective judgment to solve: James Surowiecki, The Wisdom of Crowds (New York: Anchor, 2005). The theory was originally proposed: Francis Galton, “Vox Populi,” Nature 75, no. 7 (1907): 450–51. Ninety
by Andrew W. Lo · 3 Apr 2017 · 733pp · 179,391 words
market still sticks in the craw of professional money managers, but the basic idea is more than forty years old. The long-time business journalist James Surowiecki has dubbed it the “wisdom of crowds” in his delightful book of the same name, turning Charles Mackay’s famous phrase, the “madness of crowds
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about aerospace disasters. A catastrophic explosion might suggest a failure in the fuel tanks, made by Morton Thiokol, which turned out to be the case. James Surowiecki, the business columnist for The New Yorker, called this an example of the wisdom of crowds.8 If the Efficient Markets Hypothesis is true—and
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