Putting Grades in Context
研究了美国高校“成绩背景化”政策（提供课程成绩分布信息）对学生选课模式、成绩信息含量和福利的复杂影响，发现可能降低成绩信息含量、提高平均成绩并降低福利。
Concerns over grade inflation and disparities in grading practices have led institutions of higher education in the United States to adopt various grading reforms. An element common to several reforms is providing information on the distribution of grades in different courses. The main aims of such "grades in context" policies are to make grades more informative to transcript readers and to curb grade inflation. We provide a simple model to demonstrate that such policies can have complex effects on patterns of student course enrollment. These effects may lower the informativeness of some transcripts, increase the average grade, and lower welfare.