The Wisdom of Crowds
Does the wisdom of crowds prevail when betting on football?
the number of points by which a strong team can be expected to defeat a weaker team—are supposed to reflect the "wisdom of crowds." But a new study in the Journal of Consumer Research found that crowds don't have a clue.
Crowd Effect
YouTube PSAs: Comments more persuasive than videos
The theory is that when you don’t know about the person who is communicating with you as an individual, the more you assume that you’re just like them ... It’s kind of a crowd effect. But if you knew who these individuals were, that crowd effect would go away.
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