There is a somewhat reverse phenomenon that psychologists have dubbed "groupthink." Groupthink is when the wisdom of group consensus is valued over individual critical evaluation. Not only is group consensus not always wise, sometimes it can be catastrophic. The following video points to the presence of groupthink in the catastrophic explosion of space shuttle Challenger on December 28, 1986.
So, how do you decide when you are better off following the crowd and when is it potentially harmful to do so?
I would say, when it's a guess, follow the crowd, but when the decision involves expertise, listen to the experts. The wisdom of the crowd is after all somewhat counterintuitive.
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