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Collective Wisdom

Name: Collective Wisdom
Brand: Cambridge University Press
SKU: 02362043
Price: 55.89 EUR
Availability: InStock
Author: Hél
ISBN: 9781107630277

Principles and Mechanisms

Hél

Jon Elster

Language

English

Book Paperback

Libristo code: 02362043

Publishers Cambridge University Press, May 2014

James Madison wrote, 'Had every Athenian citizen been a Socrates, every Athenian assembly would stil... Full description

Libristo code: 02362043

137 b

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James Madison wrote, 'Had every Athenian citizen been a Socrates, every Athenian assembly would still have been a mob'. The contributors to this volume discuss and for the most part challenge this claim by considering conditions under which many minds can be wiser than one. With backgrounds in economics, cognitive science, political science, law and history, the authors consider information markets, the internet, jury debates, democratic deliberation and the use of diversity as mechanisms for improving collective decisions. At the same time, they consider voter irrationality and paradoxes of aggregation as possibly undermining the wisdom of groups. Implicitly or explicitly, the volume also offers guidance and warnings to institutional designers.