Wisdom of Crowds
BOOK REVIEW
Submitted to:
INTERNATIONAL JOURNAL OF MANAGEMENT
DEVELOPMENT AND TRAINING
(Sasmira’s Institute of Management Studies & Research, Mumbai)
Submitted by:
Prof. Tamojit Ghosh Roy
MA (Economics); MBA; MS (Psychotherapy & Counselling); PhD Scholar (IIT Bombay)
Associate Professor
H. K. Institute of Management Studies & Research, Mumbai
© 2014. Prof Roy, H.K. Institute of Management Studies & Research, Mumbai. All Rights Reserved.
THE WISDOM OF CROWDS by JAMES SUROWIECKI
ISBN: 978-0-385-72170-7
306 PP | Soft Cover
US $ 14.95
2005
Watching the popular game show, Kaun Banegaa Crorepati (KBC) hosted by Big B on Sony
Entertainment Television, I always wondered….. whenever, the contestant on the hot seat opted for an audience poll, how come more than 90% of the time correct answer is arrived at, even for the most difficult question, unless the contestant thinks otherwise. For the past many editions (KBC 7th edition concluded in Nov 2013), I failed to find an answer……until I had the opportunity to read this seminal work by James Surowiecki.
Welcome to the fascinating world of collective wisdom – which is the central theme of the book The Wisdom of Crowds, a New York Times bestseller, released in 2005.
James Surowiecki in his revolutionary book explores a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how intelligent—but better at solving problems, fostering innovation, coming to wise decisions, even predicting the future. The book includes cases and experiments across the diverse fields of popular culture, psychology, ant biology, behavioral economics, artificial intelligence, military history, and politics to show how this simple idea offers important lessons for how we live our lives, select our leaders, run our companies, and think about our world.
Surprisingly enough, in the very beginning of his book, author refers to the original
(videshi) version of KBC, Who Wants to
Submitted to:
INTERNATIONAL JOURNAL OF MANAGEMENT
DEVELOPMENT AND TRAINING
(Sasmira’s Institute of Management Studies & Research, Mumbai)
Submitted by:
Prof. Tamojit Ghosh Roy
MA (Economics); MBA; MS (Psychotherapy & Counselling); PhD Scholar (IIT Bombay)
Associate Professor
H. K. Institute of Management Studies & Research, Mumbai
© 2014. Prof Roy, H.K. Institute of Management Studies & Research, Mumbai. All Rights Reserved.
THE WISDOM OF CROWDS by JAMES SUROWIECKI
ISBN: 978-0-385-72170-7
306 PP | Soft Cover
US $ 14.95
2005
Watching the popular game show, Kaun Banegaa Crorepati (KBC) hosted by Big B on Sony
Entertainment Television, I always wondered….. whenever, the contestant on the hot seat opted for an audience poll, how come more than 90% of the time correct answer is arrived at, even for the most difficult question, unless the contestant thinks otherwise. For the past many editions (KBC 7th edition concluded in Nov 2013), I failed to find an answer……until I had the opportunity to read this seminal work by James Surowiecki.
Welcome to the fascinating world of collective wisdom – which is the central theme of the book The Wisdom of Crowds, a New York Times bestseller, released in 2005.
James Surowiecki in his revolutionary book explores a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how intelligent—but better at solving problems, fostering innovation, coming to wise decisions, even predicting the future. The book includes cases and experiments across the diverse fields of popular culture, psychology, ant biology, behavioral economics, artificial intelligence, military history, and politics to show how this simple idea offers important lessons for how we live our lives, select our leaders, run our companies, and think about our world.
Surprisingly enough, in the very beginning of his book, author refers to the original
(videshi) version of KBC, Who Wants to