Cool: economics, statistics, and possible anchoring bias in one example

"What is the net present value of a JD?" (Conglomerate Blog, 9/26)

Comments

[JorgXMcKie]

Yeah, no matter how much you try to explain this to even very bright undergrads, they just don't want to hear it. Unfortunately, there are lesser students who hear even less well.

I have, over the past 10 years or so, seen at least a dozen marginal students (in terms of academic preparation, not necessarily raw intelligence) accepted at bottom tier law schools, where they are still going to go deeply into debt, and possibly not finish or not pass the bar if they do.

It's sad, really.