Social networks outsmart cognitive biases: How herding in networks makes populations more rational
Researchers examined how anchoring bias affects decision making in groups versus individuals. In an experiment with 1,600 participants, those who exchanged estimates within peer networks reduced their errors by about 22%, while solitary participants showed no improvement. The findings suggest that egalitarian social influence can mitigate anchoring bias and improve collective rationality.
- ▪Participants were first given either a low (118) or high (353) anchor before estimating the number of pennies in a pile.
- ▪Those working in connected networks exchanged their guesses with peers and then revised their estimates, leading to a 22% reduction in error.
- ▪Participants who worked alone were allowed to revise their guesses but received no peer information, and their accuracy did not improve across rounds.
- ▪The study was conducted by Damon Centola and doctoral candidate Calvin Isch and published in the Journal of Social Computing.
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June 3, 2026 Social networks outsmart cognitive biases: How herding in networks makes populations more rational by Mandira Banerjee, University of Pennsylvania edited by Stephanie Baum, reviewed by Andrew Zinin Stephanie Baum Scientific Editor Meet our editorial team Behind our editorial process Andrew Zinin Lead Editor Meet our editorial team Behind our editorial process Editors' notes This article has been reviewed according to Science X's editorial process and policies. Editors have highlighted the following attributes while ensuring the content's credibility: fact-checked trusted source proofread The GIST Add as preferred source Credit: CC0 Public Domain In 2010, the New York City-based restaurant Serendipity 3 revealed its $69 hot dog, winning the Guinness World Record for the…
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