"Groups are only smart when there is a……" — James Surowiecki
"Groups are only smart when there is a balance between the information that everyone in the group shares and the information that each of the members of the group holds privately. It's the combination of all those pieces of independent information, some of them right, some of the wrong, that keeps the group wise."
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James Surowiecki
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150 Quotes by James Surowiecki
James Surowiecki has 150 quotes on this site.
A few more worth reading:
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Auto repair, piloting, skiing, perhaps even management: these are skills that yield to application, hard work, and native talent. But…
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Lack of confidence, sometimes alternating with unrealistic dreams of heroic success, often leads to procrastination, and many studies suggest that…
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It's a familiar truism that at any one moment, financial markets are dominated by either fear or greed. But the…
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Bubbles and crashes are textbook examples of collective decision making gone wrong. In a bubble, all of the conditions that…
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If small groups are included in the decision-making process, then they should be allowed to make decisions. If an organization…
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Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or…
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But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation…
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Paradoxically, the best way for a group to be smart is for each person in it to think and act…
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This intelligence, or what I'll call "the wisdom of crowds," is at work in the world in many different guises.…
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The fact that cognitive diversity matters does not mean that if you assemble a group of diverse but thoroughly uninformed…
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One key to successful group decisions is getting people to pay much less attention to what everyone else is saying.
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In part because individual judgement is not accurate enough or consistent enough, cognitive diversity is essential to good decision making.
See all 150 quotes by James Surowiecki »
More All Quotes
This quote is filed under All Quotes,
one of 128,558 quotes in that category. Here are a few more:
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Total loyalty is possible only when fidelity is emptied of all concrete content, from which changes of mind might naturally…
— Hannah Arendt
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No cause is left but the most ancient of all, the one, in fact, that from the beginning of our…
— Hannah Arendt
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The ultimate end of human acts is eudaimonia, happiness in the sense of living well, which all men desire; all…
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The new always happens against the overwhelming odds of statistical laws and their probability, which for all practical, everyday purposes…
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Where all are guilty, no one is; confessions of collective guilt are the best possible safeguard against the discovery of…
— Hannah Arendt
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We have almost succeeded in leveling all human activities to the common denominator of securing the necessities of life and…
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I keep my friends as misers do their treasure, because, of all the things granted us by wisdom, none is…
— Pietro Aretino
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We must all make peace so that we can all live in peace.
— Jean-Bertrand Aristide
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The spirit of Ubuntu, that once led Haiti to emerge as the first independent black nation in 1804, helped Venezuela,…
— Jean-Bertrand Aristide
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As we all know, many people remain buried under tons of rubble and debris, waiting to be rescued. When we…
— Jean-Bertrand Aristide
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Wise people, even though all laws were abolished, would still lead the same life.
— Aristophanes
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A friend to all is a friend to none.
— Aristotle
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