Zhanga: May 1, 2006
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I'm studying for econ, which is tomorrow morning at 9 (!) and is going to rape me in the same way that the lacrosse team didn't rape the stripper. I really shouldn't be writing here right now because the test is in 19 hours, but this cracked me up. I'm reading about "asymmetric information in competitive markets" (yeah...) and the author is making an example of asymmetric information involving a professor and "grade insurance" where you pay $p at the beginning of the semester for a guaranteed minimum grade (A, B, etc.). I wish that were real!
Anyway, I'm reading this textbook, and I get to this:
To make this example more concrete, let's suppose that the grade insurance business is perfectly competitive (which implies that each grade insurance company will end up making zero academic profit in equilibrium), and let's suppose that grades in your course are curved (prior to me paying off the instructor to raise some grades) around a C, with 10% of all students earning an A, 25% earning a B, 30% earning a C, 25% earning a D and 10% earning an F.1
Naturally, when I saw the 1 footnote marker I looked at the bottom of the page... and found this:
1Note to my students at Duke: I understand that we have grade inflation at Duke -- so please don't write me e-mails telling me that this is not a "Duke" curve.
Nice.
(By the way, I'm pretty sure this is a general econ textbook and isn't just for Duke.)
12:41PM
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You shouldn't be studying. YOu should be warcrafting.
Gene on Wednesday, May 3, 2006 at 6:46 PM
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