Interesting Failure of Wisdom of Crowds
Like many others, my NCAA bracket went terribly awry this year and I have no teams in the Final Four. However, it did make me think that this is a really interesting failure of wisdom of crowds. According to ESPN:
More than 5.9 million brackets were filled out for ESPN.com's Tournament Challenge, but exactly two went 4-for-4 in picking Final Four teams.Only 1,093 brackets had three of the Final Four correct, while 2.1 percent had two right. A total of 27.6 percent had one Final Four team, while the vast majority of you -- 70.3 percent -- don't have a single team left.