The article by Jan Lorenz, Heiko Rauhut, Frank Schweitzer, and Dirk Helbing explores how social influence can undermine the wisdom of crowds effect. The authors conducted an experimental study with 144 participants to investigate the impact of social influence on group estimation tasks. They found that even mild social influence can reduce the diversity of group estimates without improving accuracy, a phenomenon known as the "social influence effect." Additionally, the "range reduction effect" shifts the position of the true value to peripheral regions, making the group less reliable in providing accurate estimates. The "confidence effect" boosts individuals' confidence despite the lack of improved accuracy, leading to overconfidence. The study highlights the importance of maintaining diversity in group decision-making to ensure the wisdom of crowds effect remains effective.The article by Jan Lorenz, Heiko Rauhut, Frank Schweitzer, and Dirk Helbing explores how social influence can undermine the wisdom of crowds effect. The authors conducted an experimental study with 144 participants to investigate the impact of social influence on group estimation tasks. They found that even mild social influence can reduce the diversity of group estimates without improving accuracy, a phenomenon known as the "social influence effect." Additionally, the "range reduction effect" shifts the position of the true value to peripheral regions, making the group less reliable in providing accurate estimates. The "confidence effect" boosts individuals' confidence despite the lack of improved accuracy, leading to overconfidence. The study highlights the importance of maintaining diversity in group decision-making to ensure the wisdom of crowds effect remains effective.