Book Review: The Wisdom of Crowds

I read a good book over the weekend that I think some of you would like. Here is the basic premise of this book: Larger crowds or groups of people are smarter than the elite few.

I know some of you have read Freakonomics, Blink, or Tipping Point...all of which are great reads. Well, this book is similar in nature to the style of those books. It has a lot of neat examples and theories that go along with them. I think that Chris would like the later section on short-sellers and the stock market. How to understand why people do what they do in the stock market? Sean would like the story in the beginning (introduction I think) about a lost submarine called The Scorpion in 1968. It is interesting how a lowly Naval Officer used Bayes Theorem to help locate the submarine.

Anyway, I give this book two thumbs up for anyone interested in the mystery of crowd psychology and group decision-making.