Collective behaviour: When it pays to share decisions

Theory suggests that the accuracy of a decision often increases with the number of decision makers, a phenomenon exploited by betting agents, Internet search engines and stock markets. Fish also use this 'wisdom of the crowd' effect.

[1]  G Gigerenzer,et al.  Reasoning the fast and frugal way: models of bounded rationality. , 1996, Psychological review.

[2]  T. J. Roper,et al.  Group decision-making in animals , 2003, Nature.

[3]  Christian List,et al.  Democracy in animal groups: a political science perspective. , 2004, Trends in ecology & evolution.

[4]  I. Couzin,et al.  Effective leadership and decision-making in animal groups on the move , 2005, Nature.

[5]  Nigel R Franks,et al.  Speed versus accuracy in decision-making ants: expediting politics and policy implementation , 2009, Philosophical Transactions of the Royal Society B: Biological Sciences.

[6]  S. Pratt,et al.  Quorum responses and consensus decision making , 2009, Philosophical Transactions of the Royal Society B: Biological Sciences.

[7]  D. Sumpter,et al.  Fast and accurate decisions through collective vigilance in fish shoals , 2011, Proceedings of the National Academy of Sciences.