Hi, I recently moved to Asia and started to noticed long lines near the restaurants and cafes. People willingly stand in line at the restaurant for 20-30, or even an hour. I guess it comes from the bias that the more people stay in a queue the better the entire place is. Some a kind of FOMO.
I don't think such behavior unique for Asian countries - some it-products have used it to work with early adopters by limiting the supply. We can recall Apple, which also restricts the sales for the flagman products and the store's crowds of people line up.
I'm looking for any research papers of that phenomena and it impacts for different countries and business. My question might be broad, but looking for a starting point. Also, if you have anything related to Asian countries - would like to hear that as well.
Let's try the experiment.
What will the bitcoin price be xmas 2018?
Upvote the one you think is the closest.
http://en.wikipedia.org/wiki/Wisdom_of_the_crowd
Without reading any other's choice, who do you think will be the POV of TWOW prologue? I'll make a final tally later.
You can pick 'some new character' or something like that
The setting I’m speaking of is natural resources based family company.
At MPCX we believe that crowd wisdom is a part of a new reality where each individual can contribute to the mutual wellbeing of a community and be fairly rewarded for that contribution.#MPCXP #Ai #Blockchain #Crypto
I'm really loving this book so I already tried to search books to read afterwards, but couldn't find anything that seemed interesting.
Does anybody have a suggestion for me?
I apologize if someone has posted something like this before -- I'm sure I'm not the first one to explore this topic.
Reddit's upvote/downvote system has long been criticized for how it stifles discussions and creates echo chambers within communities. It's easy enough to see how they emerge -- any community centered around 'good content' rising and 'bad content' being hidden is sure to prevent certain topics from receiving as much traction as they might deserve and for certain tropes to become played out. Still, many Redditors choose to read and vote on long comment threads all the way into the downvoted oblivions, and we need to ask some fundamental questions about how these "bystanders" react to the content before them ("bystanders" is defined here as Redditors who read and vote on comments without being involved in the discussion themselves):
- How do the visible scores affect one's perception of the content they're reading?
- Does the perception of popular opinion create a sense of legitimacy surrounding a comment?
- Do bystanders hold more influence over content perception than content creators?
- Do bystanders create 'vicious cycles'?
- How does one go about solving these problems?
- Do these problems even have solutions?
- Are these even problems?
There's a well-known experiment involving a jar of jelly beans that's made its way in the collective consciousness. The gist of it is that if you had a jar filled with some really large number of jelly beans--a number too big to easily approximate with a quick glance--and took guesses from a very large sample size, the guesses themselves will be all over the place, with most being very inaccurate, but the mean of all the guesses would be surprisingly close to the actual amount. In the linked video, the actual number of beans is 4,510, with the mean of all the guesses being about 4,515--this, despite the guesses ranging from 400 to 50,000, with only a few of the guesses actually being anywhere close. Pretty crazy.
An oral history of this experiment is often the prelude to some speech about 'the wisdom of crowds', with the intention of teaching you a counter-intuitive lesson: a person is dumb, but people are smart.
On the surface, that assertion seems quite backwards. Anyone who's ever been in a crowd would tell you that a mob of people is very stupid; it functions like a collective organism that merely reacts, rather than one that can organize or
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