How does it work?
There is a social phenomenon called WISDOM OF CROWDS, saying that crowds of people posses a "collective" wisdom, that exceeds the individuals knowledge. Most famously this was observed in 1906 by Francis Galton. He realized that in a contest, where 800 participating people were supposed to guess the weight of an ox, the median guess of all people was impressively close to the true weight. Read more on Wikipedia
about this phenomenon and check out our group here at ETH, the Chair of Systems Design
, for more really cool research (for example how social networks die or what factors influence whether your papers are cited or not).
, Rene Pfitzner
and Claudio J. Tessone