By Paul Ormerod With lecturers incentivised to carry out worthless research and students let in on ability to pay, it is high time universities were reformed, writes Paul Ormerod Universities in the UK have received bad press in the past week or so. It was revealed that many of them have been admitting foreign students with much lower grades than those of British students. The reason is a classic example of the importance of incentives in driving behaviour. Despite their many pretentions to wokery, universities have acted almost as a parody of the textbook model of rational economic choice. In…