Now that the Harvard suit reminds us to wonder how can we "fairly" admit college students, I remind the world that it would be fair to use prediction markets tied to many fair outcomes, like GPA, graduation rates, etc. https://www.overcomingbias.com/2012/12/college-admission-markets.html …https://www.economist.com/united-states/2018/06/23/a-lawsuit-reveals-how-peculiar-harvards-definition-of-merit-is …
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Replying to @robinhanson
Prediction markets wld likely just reflect American biases. Eg over valuing extroversion, which is almost certainly one of the things hurting (E?) Asians trying to get into Harvard (or promoted in Silicon Valley?) (you urself alluded to being less likely to complain)
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Replying to @Clarksterh @robinhanson
You say that like it's a bad thing, but all I see is easy money. Just bet for the smart introverts.
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Replying to @lordcataplanga @robinhanson
I’d suggest prediction markets correct noise, but not bias. In order to correct bias you need long term info, even if noisy. Also not clear that this wld correct self-reinforcing bad biases that are part of larger culture.
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Replying to @Clarksterh @robinhanson
It wouldn't correct the larger culture, only Harvard. If the rest of the world is biased against introverts and Harvard correctly predicts that they will have worse outcomes, that's hardly Harvard's fault.
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Replying to @lordcataplanga @Clarksterh
I proposed predicting outcomes fully under Harvard's control, such as GPA and graduation chance.
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Replying to @robinhanson @Clarksterh
Harvard won't keep its prestige that way. It has to come from something that interacts with the real world, not just internal measures that they can fully control.
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I'm okay with using outside outcome measures, even if they are polluted by some bias of the outside world.
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