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Pawel Brodzinski's avatar

That's a really good reminder of what the rules are to make the wisdom of the crowd produce a better estimate than an expert guess.

While I bet someone in the audience might have known the actual number of Roman Emperors, and the sum of numbers on a roulette wheel is trivia enough well-known some people *had* to know, it's a different game entirely when we talk about unknowable answers.

Folks in Galton's study had no means of knowing the ox's weight upfront. A famous wisdom of crowds story is looking for the location of the USS Scorpion once it grounded. There was no one who had the answer.

And it's a similar story with any estimates we make. We don't have a way of knowing upfront how long it will take.

Yet, all the wisdom of the crowd's caveats still apply:

a) People need to have relevant information

b) They need to act independently (which in many estimation contexts doesn't work)

c) There needs to be diversity of opinions

Just publicly throwing guesses of numbers around features we have little understanding of *is not* the wisdom of crowds. Even worse if one person in a room has more decision leverage than others (yup, planning poker, I'm looking at you).

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Plasma Bloggin''s avatar

I can't get over the fact that the median person thought there were only 10 Roman emperors. I would have underestimated the number, but just 10 is insane, and almost half of people had to have thought it was even less than that.

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