According to the theory of the wisdom of crowds, under the right circumstances ________.
A) a mass market approach is favorable to a target market approach
B) a target market approach is favorable to a mass market approach
C) groups are smarter than the smartest people in them
D) companies can make money by giving their products away for free
E) consumers can generate value

Question

Quizplus · Accepted Answer

The theory of the wisdom of crowds suggests that groups are often smarter than the smartest individuals in them, given that certain conditions are met, such as diversity, independence, and decentralization. This means that in some cases, getting input from a large, diverse group of individuals can lead to better decision-making and problem-solving than relying on a single expert or small group of experts.

According to the Theory of the Wisdom of Crowds, Under