In this book titled "The Wisdom of Crowds" by James Surowiecki the question is answered of "Why the many are smarter than the few and how collective wisdoms shapes bussiness, economies, societies, and nations."
The books goes into detail about how group decisions are often always better and more decisive than any decision that could be made by a single member of that entire group. You have to agree and its not rocket science that two heads are better than one so just think about a group of 8, 9, 10 or more heads working as one. For example, think about the popular television show "Who wants to be a Millionare". There comes a point in the game where the sole contestant is unsure of the answer to a question and the rules allow a "lifeline" so they call it for he or she to call on the audience for help. There is usually a overwhelmingly large agreement on one answer and almost always that answer is correct.
The book breaks down crowd wisdom into three different ways: Cognition, coordination and cooperation. These all tie together to make the best of crowd wisdom. Without one or the other the crowd will not make the best of decisions and will suffer to poor results. Who knows? You could be that contestant on Who wants to be a Millionare one day. Wouldn't you want a crowd with the greatest amount of wisdom possible? I sure as hell would.
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