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gjm comments on Should there be more people on the leaderboard? - Less Wrong Discussion
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I guess the motivational effect of the leaderboard is biggest for people near its cutoff. I guess that increasing the number of leaderboard slots means a small overall motivation increase (good, I guess), and a shift of motivation from higher up to lower down (not so good, I guess).
The other point of the leaderboard is to help readers get a sense of who's who. A longer leaderboard contains more information, but I suspect is less digestible.
None of this seems like an obvious win (nor a big loss).