Wednesday, October 19, 2016

Aristotle, Potluck Dinners and Independent Guess Aggregation... "the wisdom of the many"

How do you steer your company? 
What process do you use to make the best decisions?


1. Aristotle Politics 3.11: The wisdom of the crowd.

"Aristotle’s point is that under the right conditions (more on right conditions in a moment), a group of ordinary people (hoi polloi) judge better than a few excellent persons. The group achieves its excellence of judgment as a group - it is not a matter of deferring to the single best judgment in the group. Aristotle offers two examples, meant to be familiar to his reader, to explain collective judgment. 

"An Aristotelian middle way between deliberation and independent-guess aggregation"

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