The document discusses key concepts around crowdsourcing and collective wisdom. It describes Sir Francis Galton's pioneering work in statistics and surveys which helped establish the field of sociology. It then outlines types of crowd wisdom including coordination, cooperation, and cognition. James Surowiecki's book "The Wisdom of Crowds" is referenced, which identified qualities like diversity, decentralization, and aggregation that enable collective intelligence. Risks of groupthink and homogeneity are also covered.

1. Social Media: Behind the Scenes
2013 week 10

2. Online Crowds
Fundamentals

4. context

5. fundamental structure of society
evolution

6. sociology
economics
marketing
politics

8. Sir Francis Galton (1822-1911)

9. statistical correlation
questionnaires
surveys
statistician
meteorology
forensic
eugenics
Sir Francis Galton (1822-1911)

12. ?

13. !
?
x 787

15. 1,197 pounds
1,198 pounds

18. Ask a friend
65%
Ask the audience
91%

20. January 28, 1986

22. Builds the shuttle’s fuel tank
Builds the shuttle
Fuel and components
Manages ground support

23. -3%
-6%
-6%
-5%
20min

24. -3%
-3%
-12%
-3%
end of day

25. months
later

28. James Surowiecki

29. The Wisdom
of Crowds
Why the Many
Are Smarter Than the Few
and How Collective Wisdom
Shapes Business, Economies,
Societies and Nations.
James Surowiecki

30. Wisdoms
Coordination
Cooperation
Cognition

31. Types of crowd wisdom
Coordination

32. Types of crowd wisdom
Coordination

33. Types of crowd wisdom
How groups of people can form
networks of trust without a central system
Cooperation

34. Types of crowd wisdom
Thinking and information Processing
Cognition

35. on
aN
Qu
ine
S
om
isd
dW
ow
Cr

36. Diversity

37. Diversity
Each person should have
private information even
if it's just an eccentric
interpretation of the
known facts.

38. Decentralization

39. Decentralization
People are able to specialize
and draw on local knowledge.

40. Aggregation

41. Some mechanism exists for
turning private judgments
into a collective decision.
Aggregation

42. Independance

43. Independance
People's opinions aren't
determined by the opinions
of those around them.

44. om
isd
dW
row
C
RE
ILU
FA

45. Homogeneity

46. Homogeneity
Groupthink

47. Homogeneity
Groupthink
a psychological phenomenon that occurs
within a group of people, in which the desire
for harmony or conformity results in
an incorrect decision-making outcome.

48. Homogeneity
Groupthink
Leads to loss of individual creativity,
uniqueness and independent thinking.
Produces an "illusion of invulnerability"
and significantly overrates the the group’s
abilities in decision-making,
and significantly underrates the abilities
of their opponents

49. Homogeneity
Groupthink
Pearl Harbor

50. Homogeneity
Groupthink

51. Homogeneity
Blinder effect

52. Homogeneity
People tend to only hear the voices
of people they agree with and create
feedback loops reinforcing homogenity
within a group
Silo effect

53. Right
Left

54. Technology
Finance
Marketing

56. Information cascade
An information cascade occurs
when people observe the actions
of others and then make
the same choice, independently
of their own private informations.

57. Information cascade
Conditions of occurence
•
•
•
•
Decisions are made sequentially
Decisions are made rationally based on
the information available to each actor
Each node do not have access to the
information of other nodes
Action space is limited (yes/no/like/...)

58. Information cascade
Aggravating Factors
•
•
•
Low Weak link/Strong link ratio
Homogeneity of information sources
Homogeneity of position within network

59. Bandwagon effect
People doing certain things because other
people are doing it, regardless of their own
beliefs, which they may ignore or override.
The perceived "popularity" of something
may have an effect on how it is viewed.

60. Bandwagon effect
Buzz

61. Centralization

62. Division

63. herd instinct
collective hysteria
peer pressure
Emotionality