Tag Archives: Folly of Crowds

Wisdom of Crowds… or… Folly of Crowds…?…

Via Niall O’Connor of Betting Market, James Surowiecki: So if the folly of crowds got us here, is there any hope for using the wisdom of crowds to get us out? I’m hesitant to offer any forecast that would be … Continue reading

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How the bandwagon wrecked the wisdom of market crowds

In a desperate attempt to save his theory of the “wisdom of crowds” – the bedrock of the prediction markets, Surowiecki does the previously unthinkable and refers to “the folly of crowds.” (a phrase I myself have used in the … Continue reading

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