Related papers: Wisdom of the institutional crowd
Hierarchies of concepts are useful in many applications from navigation to organization of objects. Usually, a hierarchy is created in a centralized manner by employing a group of domain experts, a time-consuming and expensive process. The…
Crowdsourcing is a mechanism by means of which groups of people are able to execute a task by sharing ideas, efforts and resources. Thanks to the online technologies, crowdsourcing has become in the last decade an even more utilized process…
In this paper, we investigate how to measure the intelligence of systems under specific structures. Two indicators are adopted to characterize the intelligence of a given structure, namely the function diversity of the structure, and the…
We expect that democracy enables us to utilize collective intelligence such that our collective decisions build and enhance social welfare, and such that we accept their distributive and normative consequences. Collective decisions are…
The demand for global university league tables has been high over the past two decades. However, significant criticism of their methodologies is accumulating without being addressed. I revisit global university league tables by normalizing…
A folksonomy is ostensibly an information structure built up by the "wisdom of the crowd", but is the "crowd" really doing the work? Tagging is in fact a sharply skewed process in which a small minority of "supertagger" users generate an…
The spontaneous organization of collective activities in animal groups and societies has attracted a considerable amount of attention over the last decade. This kind of coordination often permits group-living species to achieve collective…
Coordination is a desirable feature in many multi-agent systems such as robotic and socioeconomic networks. We consider a task allocation problem as a binary networked coordination game over an undirected regular graph. Each agent in the…
Collectiveness is an important property of many systems--both natural and artificial. By exploiting a large number of individuals, it is often possible to produce effects that go far beyond the capabilities of the smartest individuals, or…
Within a general semimartingale framework, we study the relationship between collective market efficiency and individual rationality. We derive a necessary and sufficient condition for the existence of (possibly zero-sum) exchanges among…
Computational techniques have shown much promise in the field of Finance, owing to their ability to extract sense out of dauntingly complex systems. This paper reviews the most promising of these techniques, from traditional computational…
Given a set of conflicting arguments, there can exist multiple plausible opinions about which arguments should be accepted, rejected, or deemed undecided. We study the problem of how multiple such judgments can be aggregated. We define the…
Low-level "adaptive" and higher-level "sophisticated" human reasoning processes have been proposed to play opposing roles in the emergence of unpredictable collective behaviors like crowd panics, traffic jams, and market bubbles. While…
The standard criterion of rationality in economics is the maximization of a utility function that is stable across multiple observations of an agent's choice behavior. In this paper, we discuss two notions of the money pump that…
An essential task of groups is to provide efficient solutions for the complex problems they face. Indeed, considerable efforts have been devoted to the question of collective decision-making related to problems involving a single dominant…
Many algorithms to detect communities in networks typically work without any information on the cluster structure to be found, as one has no a priori knowledge of it, in general. Not surprisingly, knowing some features of the unknown…
When dealing with subjective, noisy, or otherwise nebulous features, the "wisdom of crowds" suggests that one may benefit from multiple judgments of the same feature on the same object. We give theoretically-motivated `feature…
In human crowds as well as in many animal societies, local interactions among individuals often give rise to self-organized collective organizations that offer functional benefits to the group. For instance, flows of pedestrians moving in…
The article proposes a universal dual-axis intelligent systems assessment scale. The scale considers the properties of intelligent systems within the environmental context, which develops over time. In contrast to the frequent consideration…
The spread of online misinformation poses serious threats to democratic societies. Traditionally, expert fact-checkers verify the truthfulness of information through investigative processes. However, the volume and immediacy of online…