What Is the Wisdom of the Crowd?

The average opinion of the crowd, in a weird, magical way, will be very similar to what an expert would say it's worth. The reason is because we all have a psychologically common base for understanding what things are worth. If somebody pays it, i guess that's what it was worth to at least one person. So if you ask a bunch of people who don't know anything about the topic, and then you average their answers, you end up being just about where an expert is.