Aggregation Methods in the Wisdom of Crowds: A Literature Review

Abstract

The phenomenon of the Wisdom of Crowd has been observed in several problem domains where the collective opinions of groups tend to be more accurate than those of individuals. In this context, the aggregation of individual opinions is a crucial factor that determines the success of unleashing the wisdom of the crowd. This paper aims to conduct a literature review on various aggregation methods employed in recent researches. We found that despite the increasing number of studies that deal with large and intricate datasets, conventional aggregation methods such as arithmetic, geometric, weighted aggregation, and mode continue to be widely used in the field of Wisdom of Crowds.