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Prelec, D., Seung, H.S., and McCoy, J. "A solution to the single-question crowd wisdom problem", Nature, 2017.
By asking people for both their own answer and a prediction of how others will answer we can recover the truth even when the majority is wrong.
Representative press:
Wall Street Journal,
Bloomberg (2017),
Bloomberg (2018),
Quartz,
MIT News,
Scientific American,
NPR,
Aeon,
Ars Technica,
Pacific Standard
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Mellers, B., Lu, L., and McCoy, J. "Predicting the future with humans and AI", Consumer Psychology Review, 2023.
A review of forecasting for a consumer behavior audience, including the human-versus-algorithm prediction debate, why people resist algorithms,
how human forecasting can be improved, and the psychological advantages of hybrid systems.
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McCoy, J. and Prelec, D. "A Bayesian hierarchical model of crowd wisdom based on predicting opinions of others", Management Science, 2024.
A statistical model for crowd wisdom that infers individual expertise.
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Mellers, B., McCoy, J., Lu, L., and Tetlock, P. "Human and Algorithmic Predictions in Geopolitical Forecasting: Quantifying Uncertainty in Hard-to-Quantify Domains", Perspectives on Psychological Science, 2024.
A discussion of human and algorithmic prediction in a geopolitical forecasting context.
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McCoy, J. and Prelec, D. "Belief Decomposition: A Mechanism for Collective Inference", 2026.
Working paper.
A mechanism to decompose beliefs into private and common information. This helps both to aggregate beliefs (since common information is not overweighted) and to elicit
beliefs (since the mechanism provides incentives for honesty and effort).