Earlier quoted context omitted.
Great insight. I had the great fortune to take a course with Gary Becker where we went into some of the mathematics of college admissions. He made this precise point -- the variances of the particular populations you are looking at matter a great detail. He managed to build some pretty convincing models which provided a compelling narrative for "biases" that we seemed to observe in the real world, all with simple cha…
I had the great fortune to take a course with Gary Becker Lucky you. He was great. I never had the chance to take a class from him but it would have been worth a Chicago winter to have the chance.
(I took this very class the year prior)