Diverse Teams, Wise Crowds, and Informed Experts
From Santa Fe Institute Events Wiki
SFI External Faculty Member Scott Page, University of Michigan, and SFI Trustee and Business Network Member Michael Mauboussin, Legg Mason Capital Management will host a Topical Meeting Friday, March 16 in Chicago, at the Westin Chicago River North. The Westin is located at 320 North Dearborn Street, Chicago, IL 60610.
Description: Over the past fifty years, the business world has become increasingly complex. Businesses can no longer consider their markets and competitive environments as stable backgrounds against which they can deduce optimal actions. The economic landscape doesn't just change -- it adapts. It's a complex system. Making long range and even medium range predictions in such an environment presents a challenge. Some firms rely on experts to guide their actions. Others put together teams of diverse thinkers. Still others have adopted internal prediction markets to help discern the future. Can any of these work? When does one work better than the others? Are there other, hybrid solutions?