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{ "pk": 25676, "title": "A Comparison of Small Crowd Selection Methods", "subtitle": null, "abstract": "The literature on the wisdom of crowds argues that in most\nsituations, the aggregated judgments of a large crowd perform\nwell relative to the average individual. There are, however,\nmany real-world cases where crowds perform poorly. A small\ncrowd literature has since developed, finding that better\nperforming small crowds often exist within whole crowds.\nWe compare previously proposed small crowd selection\nmethods based on absolute or relative group performance to a\nnew sequential search method and find that it selects better\nperforming small crowds more consistently for forecasts of\nreal gross domestic product (GDP) growth, inflation\n(measured by consumer price index, CPI), and unemployment\nrate made by US and Euro-zone surveys of professional\nforecasters.", "language": "eng", "license": { "name": "", "short_name": "", "text": null, "url": "" }, "keywords": [ { "word": "Wisdom of crowds; select crowds; US survey of\nprofessional forecasters; ECB survey of professional\nforecasters" } ], "section": "Papers", "is_remote": true, "remote_url": "https://escholarship.org/uc/item/4jq993h3", "frozenauthors": [ { "first_name": "Henrik", "middle_name": "", "last_name": "Olsson", "name_suffix": "", "institution": "University of Warwick", "department": "" }, { "first_name": "Jane", "middle_name": "", "last_name": "Loveday", "name_suffix": "", "institution": "University of Warwick", "department": "" } ], "date_submitted": null, "date_accepted": null, "date_published": "2015-01-01T18:00:00Z", "render_galley": null, "galleys": [ { "label": "PDF", "type": "pdf", "path": "https://journalpub.escholarship.org/cognitivesciencesociety/article/25676/galley/15300/download/" } ] }