The Conversation: A simple reward system could make crowds a whole lot wiser
Richard Mann wrote for the media outlet,The Conversation, an article discussing the work he and Professor Dirk Helbing did in their recent paper "Optimal incentives for collective intelligence", and their proposed incentive scheme that rewards accurate minority predictions.
"To give an example, if you look around on any public transport in the City of London you’ll probably see people holding copies of the Financial Times. This is a problem because if everyone has the same information, the crowd is no smarter than a single individual. Studies show that having a diverse collection of opinions, especially including minority views, is crucial for creating a smart group," wrote Richard Mann for The Conversation.