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Although Wikipedia’s volume of English entries is more than 500 times greater than that of Britannica, the site is not as error-prone as you might think. Thefree online encyclopedia relies on the wisdom of the crowds, which assumes “the many” often know more than “the expert.” Moreover, user-generatedcontent needs to be verifiable by reliable sources such as links to reputable websites. A peer-reviewed study by Nature of selected science topics foundthat the error rate of Wikipedia and Britannica was roughly the same. Yet, Wikipedia’s crowdsourcing approach to display user-generated content is notwithout criticism. The most serious are that the content may be unreliable and unauthoritative, that it could exhibit systematic bias, and that groupdynamics might prevent objective and factual reporting.Endnotes:1 2 CBS 60 Minutes video “Wikimania,” , April 5, 2015.Sources: This minicase is based on: CBS 60 Minutes video “Wikimania,” , April 5,2015; “How Jimmy Wales’ Wikipedia harnessed the web as a force for good,” Wired, March 19, 2013; Greenstein, S., and F. Zhu (2012), “Is Wikipediabiased?” American Economic Review 102: 343–348; “End of era for Encyclopaedia Britannica,” The Wall Street Journal, March 14, 2012; Greenstein, S., andF. Zhu (2012), “Is Wikipedia biased?” American Economic Review 102: 343–348; ;;“Wikipedia’s old-fashioned revolution,” The Wall Street Journal, April 6, 2009; Anderson, C. (2009), Free. The Future of a Radical Price (New York: Hyperion); “Internetencyclopedias go head-to-head,” Nature, December 15, 2005; Anderson, C. (2006), The Long Tail. Why the Future of Business Is Selling Less of More (NewYork: Hyperion); Surowiecki, J. (2004), The Wisdom of Crowds (New York: Bantam Dell); and, of course, various Wikipedia sources.
65.Award: 1.00 pointFollowing Encarta’s success, Jimmy Wales wanted to offer a free, online multilanguage encyclopedia that anyone could edit or contribute to by simplyclicking on an “edit this page” button. Which phase of the innovation process does this represent?InnovationImitationInventionIdeaPatentEncarta was the first disruptive innovation to the encyclopedia business; Wikipedia was the second, but before launching it, it was but an idea in Wales’mind.ReferencesMultiple ChoiceDiﬃculty: 1 EasyLearning Objective: 07-01 Outline the four-step innovationprocess from idea to imitation.