To talk about the Wisdom of Crowds sometimes seems like wasted energy. Despite its validity, when people think about crowds they tend to think of unruly groups of people counting on anonymity to resort to mob behavior, and the whole concept becomes a tough sell. Of course, the Wisdom of Crowds (and Dumb Agent Theory) has nothing to do with this and everything to do with large groups of people working individually to achieve one common result.
Regardless, it seems like even the idea of the unruly mob needs revising. The Economist reports that according to psychologist Dr. Mark Levine, larger crowds can actually show more temperance and be more peaceful than smaller ones. This would mean that when police and security guards try to “Break up crowds” they may actually be doing a disservice.
How does this tie into the Dumb Agent Theory? It doesn’t. But it gives good fodder when debating people who dismiss the Wisdom of Crowds by calling it an oxymoron. Defending “Dumb Agent Theory”, on the other hand, is a completely different topic.
