A tax on people who are bad at math
August 12, 2010 10:30 AM Subscribe
Improve your grades, win big money. Ultrinsic allows students in 36 colleges and universities in the US to place bets on their grades, and sends them cash for doing well. Will it motivate students to do better, or just encourage more grade-grubbing? Is it legal?
I got six tokens per A on my report card at Showbiz pizza when I was in 5th grade. I got straight As pretty regularly. Thus I was able to play Dragon's Lair for 12 seconds many times.
posted by Babblesort at 10:36 AM on August 12, 2010 [12 favorites]
posted by Babblesort at 10:36 AM on August 12, 2010 [12 favorites]
They also offer grade insurance as a hedge against bad grades. This seems like it would have to degrade to a ponzi scheme at some point.
posted by substrate at 10:49 AM on August 12, 2010
posted by substrate at 10:49 AM on August 12, 2010
Where the hell were these people when I was in college? I could have made a freaking mint!
posted by Faint of Butt at 10:51 AM on August 12, 2010
posted by Faint of Butt at 10:51 AM on August 12, 2010
Will it motivate students to do better...
It will certainly embed the "all motivation is caused by money" idea deeper into their, and our, heads.
posted by DU at 10:52 AM on August 12, 2010 [1 favorite]
It will certainly embed the "all motivation is caused by money" idea deeper into their, and our, heads.
posted by DU at 10:52 AM on August 12, 2010 [1 favorite]
Sounds like an idea worth trying, to me. At least, if it's kept opt-in. I'm not such a fan of an official school-district endorsement of this, or a requirement for poor students (financially and grade-wise) to fund it.
Of course the problem is, eventually people who can't depend on earning "A" grades will stop participating, leaving only the best students. And if every "A" grade earner gets a share of the pie, eventually everyone will be a winner. And in this case, that means taking a prize of less cash than they initially put in. Suddenly the incentive is gone.
posted by The Winsome Parker Lewis at 10:52 AM on August 12, 2010 [2 favorites]
Of course the problem is, eventually people who can't depend on earning "A" grades will stop participating, leaving only the best students. And if every "A" grade earner gets a share of the pie, eventually everyone will be a winner. And in this case, that means taking a prize of less cash than they initially put in. Suddenly the incentive is gone.
posted by The Winsome Parker Lewis at 10:52 AM on August 12, 2010 [2 favorites]
This has obvious problems -- the big one being that students can take easy classes that let them game the system.
I'm more interested in seeing how HealthyWage works out. They offer 3:1 odds that you can't go from obese to normal weight in 1 year.
posted by miyabo at 10:57 AM on August 12, 2010
I'm more interested in seeing how HealthyWage works out. They offer 3:1 odds that you can't go from obese to normal weight in 1 year.
posted by miyabo at 10:57 AM on August 12, 2010
"I was able to play Dragon's Lair for 12 seconds many times"
WHOOSH!
WHOOSH!
WHOOSH!
*dead*
posted by mr_crash_davis mark II: Jazz Odyssey at 10:57 AM on August 12, 2010
WHOOSH!
WHOOSH!
WHOOSH!
*dead*
posted by mr_crash_davis mark II: Jazz Odyssey at 10:57 AM on August 12, 2010
What fascinates me about it is that the question of whether it's legal hinges on whether students are in complete control of their grades. If they aren't, then doesn't that qualify college itself a gamble? After all, students are paying huge tuitions in the hope that they'll be rewarded a degree worth a lot of money.
posted by MrVisible at 10:58 AM on August 12, 2010
posted by MrVisible at 10:58 AM on August 12, 2010
I'll take Physics for Poets -3 over Chemistry 201, unless it's a night game at home. I'd go to -5, but the exam's on a Friday.
But the parlay w/ 19th Century Women's Fiction -6.5 over Psychology 101? Sucker bet.
posted by BitterOldPunk at 11:01 AM on August 12, 2010
But the parlay w/ 19th Century Women's Fiction -6.5 over Psychology 101? Sucker bet.
posted by BitterOldPunk at 11:01 AM on August 12, 2010
10% vig so pretty good but the return can't be all that great. After all, this is a self-selecting sample of bright students, pretty much, which means those that put money in will do so not in the hopes that it will motivate them to get better grades, but rather that the bettors are actually expecting an A to start with and make the bet based on that expectation. Which in turn means the returns won't be too great, and 10% of the bettor pool will need to be wrong for the rest to actually do better than break even.
I know I wouldn't bet on my grade if I was 90% sure or less of getting an A, but I guess other people may be less risk-averse (and parents may kick in hoping to motivate their children, but for $20... meh, even if a full 50% failed that's 40$, so...).
posted by splice at 11:07 AM on August 12, 2010
I know I wouldn't bet on my grade if I was 90% sure or less of getting an A, but I guess other people may be less risk-averse (and parents may kick in hoping to motivate their children, but for $20... meh, even if a full 50% failed that's 40$, so...).
posted by splice at 11:07 AM on August 12, 2010
This has obvious problems -- the big one being that students can take easy classes that let them game the system.
Presumably they could weigh the grading based on how well the average student does. I mean. Of course for most (but obviously not all) classes the distribution is (or should be) the same. But the problem is that when people say 'easy classes' they really mean classes below your capabilities.
But it seems like all the incentives to do really well in terms of grades or take difficult classes to challenge yourselves are still there.
posted by delmoi at 11:18 AM on August 12, 2010
Presumably they could weigh the grading based on how well the average student does. I mean. Of course for most (but obviously not all) classes the distribution is (or should be) the same. But the problem is that when people say 'easy classes' they really mean classes below your capabilities.
But it seems like all the incentives to do really well in terms of grades or take difficult classes to challenge yourselves are still there.
posted by delmoi at 11:18 AM on August 12, 2010
The founder of StickK was a Yale law professor who famously took checks from students that he could cash if they didn't turn in their papers on time. One student supposedly gave him a check for $10,000. He never cashed a check.
posted by miyabo at 11:26 AM on August 12, 2010
posted by miyabo at 11:26 AM on August 12, 2010
This has obvious problems -- the big one being that students can take easy classes that let them game the system.
If you're tailoring your post-secondary education for a $50 reward, you have bigger problems.
posted by Durn Bronzefist at 11:30 AM on August 12, 2010
If you're tailoring your post-secondary education for a $50 reward, you have bigger problems.
posted by Durn Bronzefist at 11:30 AM on August 12, 2010
Sooooo...
(1) Make arrangement with professor beforehand
(2) Pool money with professor and place bet that you will get an A
(3) Get the A
(4) Split money with professor
(5) Never get caught because the odds of somebody catching the professor in grade inflation for ONE given student are astronomical
(6) Once this plan is seen to work, actually make MORE money by bringing in more professors and then betting the "multicourse incentive" aka quinella/trifecta/etc.
Um. Sounds like a pretty good deal.
posted by penduluum at 1:08 PM on August 12, 2010
(1) Make arrangement with professor beforehand
(2) Pool money with professor and place bet that you will get an A
(3) Get the A
(4) Split money with professor
(5) Never get caught because the odds of somebody catching the professor in grade inflation for ONE given student are astronomical
(6) Once this plan is seen to work, actually make MORE money by bringing in more professors and then betting the "multicourse incentive" aka quinella/trifecta/etc.
Um. Sounds like a pretty good deal.
posted by penduluum at 1:08 PM on August 12, 2010
Oh no, nevermind. Just read the financial details in the article; I had only looked at the actual website beforehand, which avoided specifics.
Still, somebody should design that system I just outlined so I can game it.
posted by penduluum at 1:10 PM on August 12, 2010
Still, somebody should design that system I just outlined so I can game it.
posted by penduluum at 1:10 PM on August 12, 2010
This thing asks for your academic login information. My university ties this to, among other things, my checking account (for paying tuition), "campus cash", and more personal details than you can shake a stick at. I use a complex, unique password for this account because I know of too many idiotic systems that store passwords in the clear; there's absolutely no way I'm giving it away on purpose, not even for the chance to win a fabulous cash prize.
posted by yomimono at 2:00 PM on August 12, 2010 [1 favorite]
posted by yomimono at 2:00 PM on August 12, 2010 [1 favorite]
miyabo: "This has obvious problems -- the big one being that students can take easy classes that let them game the system.
"
Woa, woa, woa. You're thinking way too much work. Take a look at grade insurance and ask yourself, can you afford not to drop out?
posted by pwnguin at 4:51 PM on August 12, 2010
"
Woa, woa, woa. You're thinking way too much work. Take a look at grade insurance and ask yourself, can you afford not to drop out?
posted by pwnguin at 4:51 PM on August 12, 2010
Reading the above, sometimes I wonder how I tested out of Composition 1 and 2.
posted by pwnguin at 4:53 PM on August 12, 2010
posted by pwnguin at 4:53 PM on August 12, 2010
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posted by Blazecock Pileon at 10:34 AM on August 12, 2010