Aug 23, 2012

My reading

I finished Surowiecki's The Wisdom of Crowds. This is a 2005 book. Surowiecki talks about how groups, under certain circumstances, make wise decisions. It explains  coordination problems, cooperation problems, and others. Focal points, Coase theory of the firm, and democratic decision making are some of the concepts analyzed in the book. 

By the way, this is a good article by Surowiecki on immigration in The New Yorker (it was published online this week).

It might also be possible that a person acts like a crowd.

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