Bubbles and crashes are textbook examples of collective decision making gone wrong. In a bubble, all of the conditions that make groups intelligent - independence, diversity, private judgement-disappear.
James SurowieckiIf you work for Google or Apple, stock options give you a chance to share in the increasing value of the company. In the N.F.L., nothing like this happens; the players, though rich, are just working stiffs like the rest of us.
James SurowieckiWhat the investment community does like is short-term measures designed to boost share prices.
James SurowieckiThere does seem to be some evidence that as people get older, they procrastinate less, perhaps because they feel the pressure of time more.
James Surowiecki