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“The most robust evidence indicates that this wisdom-of-crowds principle holds when forecasts are made independently before being averaged together. In a true betting market (including the stock market), people can and do react to one another’s behavior.” — Nate Silver
The most robust evidence indicates that this wisdom-of-crowds principle holds when forecasts are made independently before being averaged together. In a true betting market (including the stock market), people can and do react to one another’s behavior.