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The Wisdom of e-crowds: Can Masses Create Value?

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  • Wieczerzycki Marcin

    (Poznań University of Economics and Business, Poznań, Poland)

Abstract

With the rising popularity of the Internet, interactions between companies and their consumers have become more common and meaningful. Researchers often tend to apply the metaphor of community to these on-line networks of B2C relationships. However, this term implies durability and a long-term orientation. It does not cover more incidental, short-lived groups of consumers, who therefore should not be treated as communities. The purpose of this paper is to explore the ability of these short-term, collective consumer phenomena (addressed as e-crowds within the scope of this paper) to create value. Based on a critical literature analysis that considers works from several different fields of knowledge (including management, economics, psychology and media studies) and empirical examples, we argue that while lacking a complex internal organization, e-crowds are capable of creating use, exchange and sign value when certain conditions are met. However, they are equally likely to perform value-destroying activities, which present real risks for companies that interact with e-crowds.

Suggested Citation

  • Wieczerzycki Marcin, 2016. "The Wisdom of e-crowds: Can Masses Create Value?," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 51(1), pages 47-62, September.
    • Handle: RePEc:vrs:ijomae:v:51:y:2016:i:1:p:47-62:n:5
    DOI: 10.1515/ijme-2016-0019
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    References listed on IDEAS

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    1. Kristine de Valck & Gerrit H. van Bruggen & Berendt Wierenga, 2009. "Virtual communities: A marketing perspective," Post-Print hal-00458421, HAL.
    2. Kozinets, Robert V., 1999. "E-tribalized marketing?: the strategic implications of virtual communities of consumption," European Management Journal, Elsevier, vol. 17(3), pages 252-264, June.
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    More about this item

    Keywords

    crowdsourcing; value creation; crowd; e-crowd; public; consumer behavior;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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