TED: How can groups make good decisions? | Mariano Sigman and Dan Ariely

The video explores how groups make collective decisions, highlighting the importance of independent thinking and the potential pitfalls of peer pressure. Experiments conducted in Buenos Aires and Vancouver demonstrate that small group discussions can lead to more accurate and thoughtful decisions. The concept of robust averaging is introduced as a method for reaching consensus, and the role of confidence in decision-making is examined. The video concludes with insights into how these findings could inform democratic processes.

What is a key factor that can undermine the wisdom of crowds?

• Peer pressure

• Diverse opinions

• Independent thinking

• Small group discussions

In the Buenos Aires experiment, what was found to be more accurate than averaging individual opinions?

• Averaging group consensus

• Individual estimates

• Public voting

• Expert opinions

What was the general consensus among TED participants regarding the AI dilemma?

• It was wrong to restart the AI

• It was acceptable to ignore the AI's feelings

• The AI should be given rights

• The AI should be shut down permanently

What characteristic was common among groups that reached consensus in the TED conference experiment?

• Low confidence levels

• High confident grays

• Extreme opinions

• Uniform opinions

What method do groups naturally use to reach consensus, as discovered in the experiments?

• Random selection

• Simple average

• Robust average

• Majority voting

What are the two components necessary for good collective decisions, according to the conclusion?

• Deliberation and diversity

• Speed and efficiency

• Authority and control

• Uniformity and agreement

What does the study suggest as a method to balance diversity of opinions and thoughtful debates?

• Direct voting

• Forming small groups

• Public forums

• Online surveys