Grades are not prices

Mon, 07 Apr 2025 00:00:00 +0000

In a recent EconTalk episode, Daisy Christodoulou explored the challenges of educational assessment, drawing provocative parallels between grades and prices. She suggested that grades, like prices in a market, help allocate attention, shape incentives, and guide decisions. It’s a striking analogy—and one that resonates with the broader themes of the episode, which reflected deeply on tradeoffs, transparency, and the limitations of rule-based systems. But as I sat with the idea, I found myself questioning whether the price metaphor truly captures what grades are—or what we need them to be. This essay is a reflection on that metaphor, and an argument for thinking about grades and educational feedback in a different way.

Assessment on Eric Lin

Grades are not prices