Markets in Everything - law school

Jay Wilson, a second-year law student at New York University, was desperate to register for a popular course in constitutional law.

Unfortunately for him, the course, taught by the youthful Daryl Levinson, was completely booked for the upcoming spring semester. Fortunately, Mr. Wilson had some money to spare. In a posting on an online bulletin board at the law school, Mr. Wilson offered $300 to any student willing to drop the course to make room for him...

Students interviewed at the law school said the practice of exchanging course spots is common at the school. As a kind gesture, some cash-strapped students have promised to bake cookies for willing traders or pass them invitations to exclusive parties.

Mr. Wilson, they said, took things to a new level: a no-nonsense business deal, the sort of financial transaction that they expect to deal with only after graduation.

Of course, the authorities soon moved to quash such deals.  The dean, however, did not explain why paying to get into a class is wrong but paying to get into law school is good.  Hmmm....perhaps Mr. Wilson would have had better luck had he offered to pay the dean rather than another student.

I have pioneered this approach even further.  Students in my classes have been known to offer payment to get out. :)

Thanks to Ray Lehmann for the link.