On an effective and efficient method for exploiting the wisdom of the inner crowd.

ABSTRACT: Researchers have shown that even an individual can produce the wisdom of the crowds, called "the wisdom of the inner crowd." However, the previous methods leave room for improvements in terms of efficacy and response time. This paper proposes a more efficient method, which required a short time, based on findings from cognitive and social psychology. The procedure is to ask participants to give two answers to the same question: first, their own estimate and, second, their estimate of public opinion. Experiments using this method showed that the averages of the two estimates were more accurate than the participants' first estimates. That is, the wisdom of the inner crowd elicited. In addition, we found that the method could be superior to other methods in terms of efficacy and convenience.

SUBMITTER: Fujisaki I 

PROVIDER: S-EPMC9984468 | biostudies-literature | 2023 Mar

REPOSITORIES: biostudies-literature