Can we predict top-performing products, services, or businesses by only monitoring the behavior of a small set of individuals? Although most previous studies focused on the predictive power of "hub" individuals with many social contacts, which sources of customer behavioral data are needed to address this question remains unclear, mostly due to the scarcity of available datasets that simultaneously capture individuals' purchasing patterns and social interactions. Here, we address this question in a unique, large-scale dataset that combines individuals' credit-card purchasing history with their social and mobility traits across an entire nation. Surprisingly, we find that the purchasing history alone enables the detection of small sets of ``discoverers" whose early purchases offer reliable success predictions for the brick-and-mortar stores they visit. In contrast with the assumptions by most existing studies on word-of-mouth processes, the hubs selected by social network centrality are not consistently predictive of success. Our findings show that companies and organizations with access to large-scale purchasing data can detect the discoverers and leverage their behavior to anticipate market trends, without the need for social network data.
A major problem that resulted from the massive use of social media networks is the diffusion of incorrect information. However, very few studies have investigated the impact of incorrect information on individual and collective decisions. We performed experiments in which participants had to estimate a series of quantities before and after receiving social information. Unbeknownst to them, we controlled the degree of inaccuracy of the social information through "virtual influencers", who provided some incorrect information. We find that a large proportion of individuals only partially follow t…
Human groups can perform extraordinary accurate estimations compared to individuals by simply using the mean, median or geometric mean of the individual estimations [Galton 1907, Surowiecki 2005, Page 2008]. However, this is true only for some tasks and in general these collective estimations show strong biases. The method fails also when allowing for social interactions, which makes the collective estimation worse as individuals tend to converge to the biased result [Lorenz et al. 2011]. Here we show that there is a bright side of this apparently negative impact of social interactions into co…
The aggregation of many independent estimates can outperform the most accurate individual judgment. This centenarian finding, popularly known as the wisdom of crowds, has been applied to problems ranging from the diagnosis of cancer to financial forecasting. It is widely believed that social influence undermines collective wisdom by reducing the diversity of opinions within the crowd. Here, we show that if a large crowd is structured in small independent groups, deliberation and social influence within groups improve the crowd's collective accuracy. We asked a live crowd (N=5180) to respond to…
Beyond the Wisdom of the Crowd: How Network Topology Distorts Collective Perception
Sapienza University of Rome（罗马第一大学）；Enrico Fermi Research Center（恩里科·费米研究中心）；Sony Computer Science Laboratories - Rome（索尼计算机科学实验室-罗马）；University Tor Vergata（托尔维加塔大学）；INFN（意大利国家核物理研究所）；Complexity Science Hub（复杂性科学中心）
Social networks continuously change as new ties are created and existing ones fade. It is widely noted that our social embedding exerts a strong influence on what information we receive and how we form beliefs and make decisions. However, most empirical studies on the role of social networks in collective intelligence have overlooked the dynamic nature of social networks and its role in fostering adaptive collective intelligence. It remains unknown (1) how network structures adapt to the attributes of individuals, and (2) whether this adaptation promotes the accuracy of individual and collecti…
"Wisdom of crowds" refers to the phenomenon that the average opinion of a group of individuals on a given question can be very close to the true answer. It requires a large group diversity of opinions, but the collective error, the difference between the average opinion and the true value, has to be small. We consider a stochastic opinion dynamics where individuals can change their opinion based on the opinions of others (social influence $α$), but to some degree also stick to their initial opinion (individual conviction $β$). We then derive analytic expressions for the dynamics of the collect…
In this paper we analyze how user generated content (UGC) is created, challenging the well known {\it wisdom of crowds} concept. Although it is known that user activity in most settings follow a power law, that is, few people do a lot, while most do nothing, there are few studies that characterize well this activity. In our analysis of datasets from two different social networks, Facebook and Twitter, we find that a small percentage of active users and much less of all users represent 50\% of the UGC. We also analyze the dynamic behavior of the generation of this content to find that the set o…
Online discussion threads are important means for individual decision-making and for aggregating collective judgments, e.g. the `wisdom of crowds'. Empirical investigations of the wisdom of crowds are currently ambivalent about the role played by social information. While some findings suggest that social information undermines crowd accuracy due to correlated judgment errors, others show that accuracy improves. We investigate experimentally the accuracy of threads in which participants make magnitude estimates of varying difficulty while seeing a varying number of previous estimates. We demon…
We propose an agent-based model of collective opinion formation to study the wisdom of crowds under social influence. The opinion of an agent is a continuous positive value, denoting its subjective answer to a factual question. The wisdom of crowds states that the average of all opinions is close to the truth, i.e. the correct answer. But if agents have the chance to adjust their opinion in response to the opinions of others, this effect can be destroyed. Our model investigates this scenario by evaluating two competing effects: (i) agents tend to keep their own opinion (individual conviction $…
One of the most significant challenges facing systems of collective intelligence is how to encourage participation on the scale required to produce high quality data. This paper details ongoing work with Phrase Detectives, an online game-with-a-purpose deployed on Facebook, and investigates user motivations for participation in social network gaming where the wisdom of crowds produces useful data.
In this study, we build on previous research to understand the conditions within which the Wisdom of the Crowd (WoC) improves or worsens as a result of showing individuals the predictions of their peers. Our main novel contributions are: 1) a dataset of unprecedented size and detail; 2) we observe the novel effect of the importance of the unimodality of the social information shown to individuals: if one does not see only one clear peak in the distribution of the crowd's predictions, the WoC is worsened after social exposure; and 3) we estimate social learning weights that we use to show that …
Predicting panic is of critical importance in many areas of human and animal behavior, notably in the context of economics. The recent financial crisis is a case in point. Panic may be due to a specific external threat, or self-generated nervousness. Here we show that the recent economic crisis and earlier large single-day panics were preceded by extended periods of high levels of market mimicry --- direct evidence of uncertainty and nervousness, and of the comparatively weak influence of external news. High levels of mimicry can be a quite general indicator of the potential for self-organized…
The average individual is typically a mediocre singer, with a rather restricted capacity to sing a melody in tune. Yet when many singers are assembled to perform collectively, the resulting melody of the crowd is suddenly perceived by an external listener as perfectly tuned -as if it was actually a choral performance- even if each individual singer is out of tune. This collective phenomenon is an example of a wisdom of crowds effect that can be routinely observed in music concerts or other social events, when a group of people spontaneously sings at unison. In this paper we rely on the psychoa…
The large availability of user provided contents on online social media facilitates people aggregation around common interests, worldviews and narratives. However, in spite of the enthusiastic rhetoric about the so called {\em wisdom of crowds}, unsubstantiated rumors -- as alternative explanation to main stream versions of complex phenomena -- find on the Web a natural medium for their dissemination. In this work we study, on a sample of 1.2 million of individuals, how information related to very distinct narratives -- i.e. main stream scientific and alternative news -- are consumed on Facebo…
Extensive efforts have been devoted to characterizing the rich connectivity patterns among the nodes (components) of such complex networks (systems), and in the course of development of research in this area, people have been prompted to address on a fundamental question: How does the fascinating yet complex topological features of a network affect or determine the collective behavior and performance of the networked system? While elegant attempts to address this core issue have been made, for example, from the viewpoints of synchronization, epidemics, evolutionary cooperation, and the control…
Here we focus on the description of the mechanisms behind the process of information aggregation and decision making, a basic step to understand emergent phenomena in society, such as trends, information spreading or the wisdom of crowds. In many situations, agents choose between discrete options. We analyze experimental data on binary opinion choices in humans. The data consists of two separate experiments in which humans answer questions with a binary response, where one is correct and the other is incorrect. The questions are answered without and with information on the answers of some prev…
École Polytechnique Fédéreal de Lausanne（洛桑联邦理工学院）；Massachusetts Institute of Technology（麻省理工学院）
One goal of online social recommendation systems is to harness the wisdom of crowds in order to identify high quality content. Yet the sequential voting mechanisms that are commonly used by these systems are at odds with existing theoretical and empirical literature on optimal aggregation. This literature suggests that sequential voting will promote herding---the tendency for individuals to copy the decisions of others around them---and hence lead to suboptimal content recommendation. Is there a problem with our practice, or a problem with our theory? Previous attempts at answering this questi…
To uncover underlying mechanism of collective human dynamics, we survey more than 1.8 billion blog entries and observe the statistical properties of word appearances. We focus on words that show dynamic growth and decay with a tendency to diverge on a certain day. After careful pretreatment and fitting method, we found power laws generally approximate the functional forms of growth and decay with various exponents values between -0.1 and -2.5. We also observe news words whose frequency increase suddenly and decay following power laws. In order to explain these dynamics, we propose a simple mod…
We develop a sequence of models describing information transmission and decision dynamics for a network of individual agents subject to multiple sources of influence. Our general framework is set in the context of an impending natural disaster, where individuals, represented by nodes on the network, must decide whether or not to evacuate. Sources of influence include a one-to-many externally driven global broadcast as well as pairwise interactions, across links in the network, in which agents transmit either continuous opinions or binary actions. We consider both uniform and variable threshold…
Quantifying uncertainties in collective human behavior and decision making is crucial for ensuring public health and safety, enabling effective disaster response, informing the design of transportation and communication networks, and guiding the development of new technologies. However, modeling and predicting such behavior is notoriously difficult, due to the influence of a variety of complex factors such as the availability and uncertainty of information, the interaction and influence of social groups and networks, the degree of risk or time pressure involved in a situation, and differences …
