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The Wisdom of Crowds

The Wisdom of Crowds
The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group. The book presents numerous case studies and anecdotes to illustrate its argument, and touches on several fields, primarily economics and psychology. The opening anecdote relates Francis Galton's surprise that the crowd at a county fair accurately guessed the weight of an ox when their individual guesses were averaged (the average was closer to the ox's true butchered weight than the estimates of most crowd members, and also closer than any of the separate estimates made by cattle experts).[1] Types of crowd wisdom[edit] Surowiecki breaks down the advantages he sees in disorganized decisions into three main types, which he classifies as

OASIS XML Interchange Language (XMILE) for System Dynamics TC Defining an open XML protocol for sharing interoperable system dynamics models and simulations. Steven Adler,, ChairKarim Chichakly,, Chair Table of Contents Long Tail An example of a power law graph showing popularity ranking. To the right (yellow) is the long tail; to the left (green) are the few that dominate. In this example, the areas of both regions are equal.

Collective intelligence Types of collective intelligence Collective intelligence is shared or group intelligence that emerges from the collaboration, collective efforts, and competition of many individuals and appears in consensus decision making. The term appears in sociobiology, political science and in context of mass peer review and crowdsourcing applications. It may involve consensus, social capital and formalisms such as voting systems, social media and other means of quantifying mass activity. Collective IQ is a measure of collective intelligence, although it is often used interchangeably with the term collective intelligence. Collective intelligence has also been attributed to bacteria[1] and animals.[2] Open Agent Based Modeling Consortium Agent Modeling Platform (AMP) (link is external) “The AMP project provides extensible frameworks and exemplary tools for representing, editing, generating, executing and visualizing agent-based models (ABMs) and any other domain requiring spatial, behavioral and functional features.” AnyLogic (link is external) A Java-based modeling platform deployed on Eclipse that supports “System Dynamics, Process-centric (AKA Discrete Event), and Agent Based modeling.” Ascape (link is external) A platform “designed to be flexible and powerful, but also approachable, easy to use and expressive.

Wikinomics: How Mass Collaboration Changes Everything Concepts[edit] According to Tapscott, Wikinomics is based on four ideas: Openness, Peering, Sharing, and Acting Globally. The use of mass collaboration in a business environment, in recent history, can be seen as an extension of the trend in business to outsource: externalize formerly internal business functions to other business entities. The difference however is that instead of an organized business body brought into being specifically for a unique function, mass collaboration relies on free individual agents to come together and cooperate to improve a given operation or solve a problem.

Distributed Social Network Projects URL = These are projects that are designed to run on servers and use federation protocols to reach out and interchange between each other. 6d, Ampify, Appleseed, Cognitive Robotics » Systems Here, you can find most of the systems developed so far by the group. All of them are based on Prolog (usually Eclipse, SWI, LPA, and Quintus.) Golog: A high-level agent programming language. An interpreter in SWI Prolog can be found here. An interpreter in ECLIPSE Prolog can be found here. More code related with Golog can be found in Reiter’s book Knowledge in Action: Logical Foundations for Specifying and Implementing Dynamical Systems.

The World Is Flat The World Is Flat: A Brief History of the Twenty-First Century is an international bestselling book by Thomas L. Friedman that analyzes globalization, primarily in the early 21st century. The title is a metaphor for viewing the world as a level playing field in terms of commerce, where all competitors have an equal opportunity. As the first edition cover illustration indicates, the title also alludes to the perceptual shift required for countries, companies, and individuals to remain competitive in a global market where historical and geographical divisions are becoming increasingly irrelevant. Friedman himself is a strong advocate of these changes, calling himself a "free-trader" and a "compassionate flatist", and he criticizes societies that resist these changes.

The World's Most Innovative Bank Taps P2P, Crowdsourcing, Social Media [VIDEO] A few days ago, Fidor Bank AG‘s released this short Fidor Bank video where they talk you through their concept and most of the digital banking innovations they introduced over the last few years. Imagine the blueprint for the bank of the future, except that it is live and available in Germany and now Russia. Matthias Kroener – Fidor’s Founder & CEO (@ficoba) is one of the most passionate banking CEOs I know on the topics of digital innovation, social media and customer advocacy. Fidor’s online platform is extremely innovative and includes virtual currencies trading, P2P advices, social media banking, facebook and twitter payments.