[api]

So you'd say that the median performance is higher from the top schools, but that the difference appears less pronounced at the extreme ends of the curve?

Basically this would mean that an average person from Stanford would probably be better than an average person from University of Nowheresville, but that an exceptional person from the latter might be as good as an exceptional person from the former...?

If true this would account for a tendency to try to recruit from top schools, since the odds of getting a better candidate might overall be higher. But it doesn't change the overall social implications much.

[jacquesm]

No, an exceptional person without any formal education can blow a person with a formal education clear out of the water both in drive and in productivity and quality.

But that's 'exceptional' for you, it is an exception, I've only encountered one such person to date.