Zvi comments on High School, Human Capital, Signaling and College Admissions - Less Wrong
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Changing the formula might create the incentive to take additional easy classes, but it's theoretically impossible to create a system that doesn't give trade-off opportunities to signal versus do something else that is otherwise more useful. It's very hard to make taking that extra course exactly neutral in expectation in terms of impact, and even if it is, you've got opportunity costs.