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The underlying decision mechanism of distributed democracy is Wisdom of the crowd which means that together as a group we are much smarter than a single individ
by acd 9y ago
The underlying decision mechanism of distributed democracy is Wisdom of the crowd which means that together as a group we are much smarter than a single individual.
"The classic wisdom-of-the-crowds finding involves point estimation of a continuous quantity. At a 1906 country fair in Plymouth, 800 people participated in a contest to estimate the weight of a slaughtered and dressed ox. Statistician Francis Galton observed that the median guess, 1207 pounds, was accurate within 1% of the true weight of 1198 pounds.[8] This has contributed to the insight in cognitive science that a crowd's individual judgments can be modeled as a probability distribution of responses with the median centered near the true value of the quantity to be estimated."
https://en.wikipedia.org/wiki/Wisdom_of_the_crowd https://en.wikipedia.org/wiki/Wisdom_of_the_crowd
- splintercell 9y agoAh, the wisdom of the crowd which accurately predicted in 2016 the Brexit and election of Donald Trump.