Difference between revisions of "Error of crowds"

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The Error of Crowds is the idea that under many scoring rules, following an average of the various beliefs will result in a belief less useful than randomly selecting one.  A related idea is that a popular belief is likely to be wrong because the less popular ones couldn't maintain support if they were worse than the popular one.
 
==References==
 
==References==
 
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Revision as of 07:22, 25 June 2009

The Error of Crowds is the idea that under many scoring rules, following an average of the various beliefs will result in a belief less useful than randomly selecting one. A related idea is that a popular belief is likely to be wrong because the less popular ones couldn't maintain support if they were worse than the popular one.

References

Overcoming Bias Articles