CrowdsourcingCrowdsourcing involves a large group of dispersed participants contributing or producing goods or services—including ideas, votes, micro-tasks, and finances—for payment or as volunteers. Contemporary crowdsourcing often involves digital platforms to attract and divide work between participants to achieve a cumulative result. Crowdsourcing is not limited to online activity, however, and there are various historical examples of crowdsourcing. The word crowdsourcing is a portmanteau of "crowd" and "outsourcing".
Wisdom of the crowdThe wisdom of the crowd is the collective opinion of a diverse independent group of individuals rather than that of a single expert. This process, while not new to the Information Age, has been pushed into the mainstream spotlight by social information sites such as Quora, Reddit, Stack Exchange, Wikipedia, Yahoo! Answers, and other web resources which rely on collective human knowledge. An explanation for this phenomenon is that there is idiosyncratic noise associated with each individual judgment, and taking the average over a large number of responses will go some way toward canceling the effect of this noise.
Collective memoryCollective memory refers to the shared pool of memories, knowledge and information of a social group that is significantly associated with the group's identity. The English phrase "collective memory" and the equivalent French phrase "la mémoire collective" appeared in the second half of the nineteenth century. The philosopher and sociologist Maurice Halbwachs analyzed and advanced the concept of the collective memory in the book Les cadres sociaux de la mémoire (1925).
The Wisdom of CrowdsThe Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group. The book presents numerous case studies and anecdotes to illustrate its argument, and touches on several fields, primarily economics and psychology.
Prediction marketPrediction markets, also known as betting markets, information markets, decision markets, idea futures or event derivatives, are open markets that enable the prediction of specific outcomes using financial incentives. They are exchange-traded markets established for trading bets in the outcome of various events. The market prices can indicate what the crowd thinks the probability of the event is. A prediction market contract trades between 0 and 100%.
Amazon Mechanical TurkAmazon Mechanical Turk (MTurk) is a crowdsourcing website with which businesses can hire remotely located "crowdworkers" to perform discrete on-demand tasks that computers are currently unable to do as economically. It is operated under Amazon Web Services, and is owned by Amazon. Employers (known as requesters) post jobs known as Human Intelligence Tasks (HITs), such as identifying specific content in an image or video, writing product descriptions, or answering survey questions.
Mass collaborationMass collaboration is a form of collective action that occurs when large numbers of people work independently on a single project, often modular in its nature. Such projects typically take place on the internet using social software and computer-supported collaboration tools such as wiki technologies, which provide a potentially infinite hypertextual substrate within which the collaboration may be situated. Open source software such as Linux was developed via mass collaboration.
Human-based computationHuman-based computation (HBC), human-assisted computation, ubiquitous human computing or distributed thinking (by analogy to distributed computing) is a computer science technique in which a machine performs its function by outsourcing certain steps to humans, usually as microwork. This approach uses differences in abilities and alternative costs between humans and computer agents to achieve symbiotic human–computer interaction.
