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Rankings: A Dramatization Of The Incentives Created By Ranking Law Schools, Jeff Sovern
Rankings: A Dramatization Of The Incentives Created By Ranking Law Schools, Jeff Sovern
Jeff Sovern
Rankings: A Dramatization of the Incentives Created by Ranking Law Schools Sellers in a competitive market shift resources from attributes buyers don't care about to attributes buyers do care about. In markets in which buyers rely on imperfect signals for quality, sellers move resources away from improving the quality of their product to enhancing the illusion of quality. For example, before freshness dating, when consumers tested the freshness of bread by squeezing it, bakers reportedly added chemicals to bread to preserve its softness longer, thereby creating the illusion of freshness. Similarly, law school rankings encourage schools to shift resources away …
Rankings: A Dramatization Of The Incentives Created By Ranking Law Schools, Jeff Sovern
Rankings: A Dramatization Of The Incentives Created By Ranking Law Schools, Jeff Sovern
Jeff Sovern
Rankings: A Dramatization of the Incentives Created by Ranking Law Schools Sellers in a competitive market shift resources from attributes buyers don't care about to attributes buyers do care about. In markets in which buyers rely on imperfect signals for quality, sellers move resources away from improving the quality of their product to enhancing the illusion of quality. For example, before freshness dating, when consumers tested the freshness of bread by squeezing it, bakers reportedly added chemicals to bread to preserve its softness longer, thereby creating the illusion of freshness. Similarly, law school rankings encourage schools to shift resources away …