Related papers: Wisdom of Crowds cluster ensemble
The Wisdom of Crowds (WOC), as a theory in the social science, gets a new paradigm in computer science. The WOC theory explains that the aggregate decision made by a group is often better than those of its individual members if specific…
In this study, we build on previous research to understand the conditions within which the Wisdom of the Crowd (WoC) improves or worsens as a result of showing individuals the predictions of their peers. Our main novel contributions are: 1)…
Numerous studies and anecdotes demonstrate the "wisdom of the crowd," the surprising accuracy of a group's aggregated judgments. Less is known, however, about the generality of crowd wisdom. For example, are crowds wise even if their…
Wisdom of the crowd, the collective intelligence derived from responses of multiple human or machine individuals to the same questions, can be more accurate than each individual, and improve social decision-making and prediction accuracy.…
The puzzling idea that the combination of independent estimates of the magnitude of a quantity results in a very accurate prediction, which is superior to any or, at least, to most of the individual estimates is known as the wisdom of…
The wisdom of crowds is the idea that the combination of independent estimates of the magnitude of some quantity yields a remarkably accurate prediction, which is always more accurate than the average individual estimate. In addition, it is…
In this paper we present a mathematical model for collaborative filtering implementation in stock market predictions. In popular literature collaborative filtering, also known as Wisdom of Crowds, assumes that group has a greater knowledge…
The average portfolio structure of institutional investors is shown to have properties which account for transaction costs in an optimal way. This implies that financial institutions unknowingly display collective rationality, or Wisdom of…
The provision of information can improve individual judgments but also fail to make group decisions more accurate; if individuals choose to attend to the same information in the same manner, the predictive diversity that enables crowd…
The wisdom of crowds is an umbrella term for phenomena suggesting that the collective judgment or decision of a large group can be more accurate than the individual judgments or decisions of the group members. A well-known example…
Clustering explores meaningful patterns in the non-labeled data sets. Cluster Ensemble Selection (CES) is a new approach, which can combine individual clustering results for increasing the performance of the final results. Although CES can…
The aggregation of many independent estimates can outperform the most accurate individual judgment. This centenarian finding, popularly known as the wisdom of crowds, has been applied to problems ranging from the diagnosis of cancer to…
Wisdom of crowds refers to the phenomenon that the aggregate prediction or forecast of a group of individuals can be surprisingly more accurate than most individuals in the group, and sometimes - than any of the individuals comprising it.…
"Wisdom of crowds" refers to the phenomenon that the average opinion of a group of individuals on a given question can be very close to the true answer. It requires a large group diversity of opinions, but the collective error, the…
This paper argues for recognizing an emerging paradigm of causal learning by wisdom of the crowd. Recent developments in government, industry, and research point to the rise of decentralized and crowd-based approaches within causal…
Crowds can often make better decisions than individuals or small groups of experts by leveraging their ability to aggregate diverse information. Question answering sites, such as Stack Exchange, rely on the "wisdom of crowds" effect to…
In presence of multiple clustering solutions for the same dataset, a clustering ensemble approach aims to yield a single clustering of the dataset by achieving a consensus among the input clustering solutions. The goal of this consensus is…
Theoretical results underpinning the Wisdom of Crowds, such as the Condorcet Jury Theorem, point to substantial accuracy gains through aggregation of decisions or opinions, but the foundations of this theorem are routinely undermined in…
The community structure of complex networks reveals both their organization and hidden relationships among their constituents. Most community detection methods currently available are not deterministic, and their results typically depend on…
A novel approach rooted on the notion of consensus clustering, a strategy developed for community detection in complex networks, is proposed to cope with the heterogeneity that characterizes connectivity matrices in health and disease. The…