The Wisdom Of Crowds

Well this topic was brand new to me upon entering my INFS 3500 class and I am still trying to understand it. So The Wisdom Of Crowds is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group.(Wikipedia) he broke down crowd wisdom into 3 parts which were Cognition,Coordination, and Cooperation. Now I believe without a central Idea or main person in charge, great things can happen, people can work together and he expressed the pros of people working together without organization. He also described four elements that were required to form a Wise Crowd; Diversity of Opinion, Independence, Decentralization, and Aggregation. Now I have to say he mad excellent points in explaining his theory. But of course with all theories their has to be failure. He did studies that showed in some cases people produced very bad judgment, argued that in these types of situations their cognition or cooperation failed and were too conscious of the opinions of others.(Wikipedia) So when it came to decision making he went with personal decisions! I know i would be biased as well when decision making is involved. But again this is just my thought on this topic and may be wrong but hey it's just a blog!!