The Crowd Classification Problem: Social Dynamics of Binary-Choice Accuracy
Abstract
Decades of research suggest that information exchange in groups and organizations can reliably improve judgment accuracy in tasks such as financial forecasting, market research, and medical decision making. However, we show that improving the accuracy of numeric estimates does not necessarily improve the accuracy of decisions. For binary-choice judgments, also known as classification tasks—for example, yes/no or build/buy decisions—social...
Paper Details
Title
The Crowd Classification Problem: Social Dynamics of Binary-Choice Accuracy
Published Date
May 1, 2022
Journal
Volume
68
Issue
5
Pages
3949 - 3965
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