COMPLEXITY

Paul Smaldino & C. Thi Nguyen on Problems with Value Metrics & Governance at Scale (EPE 06)

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Feb 9, 2023
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INSIGHT

Metrics vs. Core Values

  • Humans often mistake metrics for core values, which distorts understanding and behavior.
  • Many key values don’t have simple metrics, complicating governance and collective wisdom at large scales.
INSIGHT

Perverse Incentives vs. Value Capture

  • Perverse incentives influence behavior without necessarily changing one's core values.
  • Value capture occurs when external simplified versions of values replace genuine motivation.
ANECDOTE

University Rankings Impact

  • US News and World Report university rankings caused a two-stage impact on legal education.
  • Initially resisted, later administrators fully embraced rankings, changing institutional goals.
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