File:PDwyerDiversityIdeaMarkets.pdf

Idea markets are contexts where ideas compete for attention and people to embrace them. They are near ubiquitous in the form of religions, political parties, securities markets and the blogosphere to name a few. Most idea markets are also communities where members alternate between being idea consumers and producers. They are thus centers for collaborative knowledge creation. Recent research extols the value of diverse perspectives among the members of such groups, however these groups tend to form based on commonality of idea preference, a basis that is thought to limit diversity. This study investigates whether ideal levels of cognitive diversity can emerge in such groups. It finds that general popularity among idea markets draws together people with diverse perspectives, causing ideal levels of cognitive diversity to emerge.