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Social Influence Strengthens Crowd Wisdom Under Voting
Institute of Sociology, LMU Munich, Munich, Germany.
Linköping University, The Institute for Analytical Sociology, IAS. Linköping University, Faculty of Arts and Sciences.ORCID iD: 0000-0001-5774-1553
2018 (English)In: Advances in Complex Systems, ISSN 0219-5259, Advances in Complex Systems, ISSN 0219-5259, Vol. 21, no 6-7Article in journal (Refereed) Published
Abstract [en]

The advantages of groups over individuals in complex decision-making have long interested scientists across disciplinary divisions. Averaging over a collection of individual judgments proves a reliable strategy for aggregating information, particularly in diverse groups in which statistically independent beliefs fall on both sides of the truth and contradictory biases are cancelled out. Social influence, some have said, narrows variation in individual opinions and undermines this wisdom-of-crowds effect in continuous estimation tasks. Researchers, however, neglected to study social-influence effects on voting in discrete choice tasks. Using agent-based simulation, we show that under voting — the most widespread social decision rule — social influence contributes to information aggregation and thus strengthens collective judgment. Adding to our knowledge about complex systems comprised of adaptive agents, this finding has important ramifications for the design of collective decision-making in both public administration and private firms.

Place, publisher, year, edition, pages
Singapore: World Scientific, 2018. Vol. 21, no 6-7
Keywords [en]
aggregated judgment, opinion dynamics, social influence, truth tracking, wisdom of crowds
National Category
Social Work
Research subject
Economic Information Systems
Identifiers
URN: urn:nbn:se:liu:diva-153263DOI: 10.1142/s0219525918500133ISI: 000455589800004Scopus ID: 2-s2.0-85052684408OAI: oai:DiVA.org:liu-153263DiVA, id: diva2:1268856
Funder
The Royal Swedish Academy of Sciences, SO2016-0060Riksbankens Jubileumsfond, M12-0301:1
Note

Funding agencies: Royal Swedish Academy of Sciences [SO2016-0060]; Riksbankens Jubileumsfond [M12-0301: 1]

Available from: 2018-12-07 Created: 2018-12-07 Last updated: 2019-03-18Bibliographically approved

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Keuschnigg, Marc

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The Institute for Analytical Sociology, IASFaculty of Arts and Sciences
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CiteExportLink to record
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Citation style
  • apa
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  • oxford
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  • de-DE
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  • nn-NB
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  • Other locale
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Output format
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