How social influence can undermine the wisdom of crowd effect

By Jan Lorenz, Heiko Rauhut, Frank Schweitzer, Dirk Helbing. 2011

995 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Safety Research, Statistical and Nonlinear Physics

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Citations in the corpus

Leveraging Position Bias to Improve Peer Recommendation (2014, background): “We experimentally evaluate the effect of position bias, in contrast to previous studies of social influence [2,3,5,16].”
Debiasing social wisdom (2013, background): “[17] study how social influence can undermine the wisdom of a crowd for a variety of estimation tasks.”
Using the Delphi expert consensus method in mental health research (2015, background): “There is some evidence that feedback on the group average when making estimates can undermine the ‘wisdom of crowds’ effect (Lorenz et al., 2011).”
Network dynamics of social influence in the wisdom of crowds (2017, background): “Our analyses indicate that recent small-group studies arguing that social influence undermines the wisdom of crowds (even in a decentralized network) (13) were insufficiently statistically powered to identify the improvements in collective accuracy that we found (SI Appendix, Fig.”
"Popularity Effect" in User-Generated Content: Evidence from Online Product Reviews (2014, background): “Recently, lab studies (Lorenz et al., 2011) show that social interactions and social influence can in fact undermine this " wisdom of crowd " effect.”
The digital traces of bubbles: feedback cycles between socio-economic signals in the Bitcoin economy (2014, background): “Following from our hypothesis on the role of social interactions, a key issue is characterizing the effect of social influence [10,11] in the price variations.”
The Benefits of Social Influence in Optimized Cultural Markets (2015, result): “Our results continue to hold when the perceived quality of a song is affected by social influence [22–24], e.”
Limited individual attention and online virality of low-quality information (2017, background): “But when people communicate, their opinions are no longer independent, leading to higher confidence and lower accuracy [38].”
Social Influence and the Collective Dynamics of Opinion Formation (2013, background): “In other disciplines such as psychology and cognitive science, laboratory experiments have been conducted to study how people integrate feedback from other individuals to revise their initial answers to factual questions [6,29,30].”
Disentangling the Effects of Social Signals (2014, background): “, through ranking) and explicit (through social signals) information about others’ preferences together affect people’s decision-making processes, an interaction not resolved by previous experimental studies (Salganik et al., 2006; Lorenz et al., 2011; Muchnik et al., 2013).”