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not necessarily. if they get paid to do the tests whether or not it there is a positive or negative outcome, that incentive is reduced. The choice of 3rd party
by 7sigma 10y ago
not necessarily. if they get paid to do the tests whether or not it there is a positive or negative outcome, that incentive is reduced.
The choice of 3rd party should be open, transparent and done by the regulating agencies.
- JamesBarney 10y agoIf you're thinking of just one round of testing this is true. But if a 3rd party tester gets a reputation for being tough then everyone tests with another tester. This creates a race to the bottom, where the is an implicit competition to get a reputation as the least stringent tester. This is essentially what happened with the credit rating agencies during the financial crisis.
- hueving 10y agoyou missed the part where he said choosing the tester is done by regulating authorities. That would prevent the financial ratings agency fiasco.