Wednesday, February 17, 2010

The Wisdom Of Crowds

There was a small section that used football as an example that I found intriguing. The example was which was a better decision: going for it on fourth down, or kicking a field goal/punting. The conclusion that was drawn was it is almost always smarter to go for it in a usual close call situation, depending on field position. The book points out that it is now conventional knowledge among coaches to take the 3 points whenever they can get them. It also points out that a recent coach has taken up the more aggressive and bold strategy, Bill Belichick. I doubt that many NFL coaches have read this book, and I highly doubt that many would change their coaching strategies from this type of book anyway. Although if a coach would here this mathematical proof that it is better to go for it, one would think a coach confident in his team would start to be more aggressive. Maybe we'll start to see the conventional wisdom to shift towards aggressiveness, especially after this year's Super Bowl (the onside kick to start the half by the Saints).

The was also a section on decentralization. The idea is that more specified groups seeking certain information is effective only when a successful way to aggregate the information is present. This led me to think of a newspaper editor. They work as a way to aggregate the information of fellow reporters on their specialized beats.

TOTAL READING TIME: 26 hr.

Page: 90

1 comment:

  1. Great example of groupthink (members of the group have pressure to self-censure themselves to give the impression of unanimity)!

    My favorite thing about Sociology is that it challenges you to question conventional wisdom. This is a great example.

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