Owner: Romulo
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'Wisdom of Crowds' and Central Limit Theorem - 05 January, 2007
zzbbyy says
"But it's limited by the fact that Surowiecki has essentially one picture of how collective cognition could work, namely averaging a lot of guesses which are randomly and independently distributed around the true answer --- in other words, the central limit theorem" from
a comment by apparently an academic.

What do you think? I don't remember much from my math education - but it seems credible to me. If this is right than the really hot book is somehow trivial - i.e. it's just a list of examples for some math theorem and it's thesis is very limited as it is only applicable exactly where the theorem assumptions are met.
Total Topic Karma: 0 - More by this Author
Admin Jawad says
+0 Karma
Hey thanks for pointing out the link. I ordered the book "The Wisdom of Crowds: why the many are smarter than the few and how collective wisdom shapes business, economies, societies and nations". It will make for a good reading.
- 09 January, 2007
(Unregistered) not important says
+0 Karma
what was the central limit thrm again? Was that were like if you flip a coin many times the probability will converge to 1/2? I dont really remember. Post it up some one.
- 13 February, 2007