The Crowd Classification Problem: Social Dynamics of Binary-Choice Accuracy

  title={The Crowd Classification Problem: Social Dynamics of Binary-Choice Accuracy},
  author={Joshua Aaron Becker and Douglas Guilbeault and Edward Bishop Smith},
  journal={Manag. Sci.},
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 influence is most likely to grow the majority vote share… 
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