Wired, December 2006, p. 46

Is collective intelligence really more intelligent?

Jackie Fenn
Gartner fellow, Emerging Trends and Technologies

Collective intelligence isn't about outsmarting the experts; it's 
about taking advantage of a broader range of resources. For content 
creation, individuals are good at figuring out what needs to be done 
and where they have the skills, time, and motivation to contribute. 
Then peer recognition drives the highest-quality contributions to the 
top of the pile.

Paul Ginsparg 
Founder, arXiv.org

When expert opinion becomes accepted wisdom, the collective 
intelligence can be smarter than the individual expert by virtue of 
being more comprehensive. At least until the next major conceptual 
shift leaves the collective behind. Major developments in the sciences 
have frequently taken this path.

Robin Hanson
Economist, George Mason University

Companies often wonder: Should we consult a broad opinion poll or a 
blue-ribbon committee? Prediction markets offer a better way. Because 
these markets reward being right and penalize being wrong, they tend 
to be dominated by a few experts when the experts know best, and by 
the masses when the crowd knows best. Either way, you win.