How Social Influence Can Undermine the Wisdom of Crowd Effect.

Lorenz, J., Rauhut, H., Schweitzer, F., & Helbing, D. (2011). How Social Influence Can Undermine the Wisdom of Crowd Effect. Proceedings of the National Academy of Sciences, 108(22), 9020-9025.

Type

Journal article

Intellectual base

Primary research

Year

2011

DOI

10.1073/pnas.1008636108

Link

https://doi.org/10.1073/pnas.1008636108

Cited from

communication_media_studies, economics_finance, psychology

Cited by

3 citations across 3 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Conformity
  • The prime gives analysts the vocabulary to ask which they are looking at.

    This sourceExperiment showing even mild social influence correlates individual estimates and degrades collective accuracy — supports the claim that crowd wisdom is conditional on independence. Live-verified (PNAS).

• Echo Chamber
  • It predicts an amplification asymmetry: the same idea coming from three in-group members carries the rhetorical weight of three independent confirmations, when in a tight network it is one observation re-circulating — so a reasoner must discount apparent consensus by the network's connectivity.

    This sourceShows that social influence in a connected group collapses independent estimates, manufacturing false consensus from re-circulating signal.

• Wisdom of the Crowds
  • The prime names a conditional phenomenon, not a populist faith in numbers.

    This sourceExperimental demonstration that even mild social influence correlates individual estimates and degrades collective accuracy, establishing that crowd wisdom is conditional on independence.

Verification

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