A need for Screening Tests

A number of industries could become so much more "genuine", i.e. with some "screening tests".

Let's look at the academic level, if Business Schools advocate high probability (60%) of finding executive level employment for graduates, then a screening test could be something along the lines of "OK, then let's do a contract where if the grad doesn't get employed, the school would refund 60% of the tuition...".

Or in the financial industry. The currently popular management + incentive fees are not feasible for the average investor. With the fixed management fee, no management team has any incentive to actually perform for the investor(s), they could simply take opposite directions for half of the investors for 1 time step, then vice versa, and still make a guaranteed management fee income while investors bleed to death.

Screening Test for an investment firm (Mutual funds, hedge funds... etc.)

How about this, having an incentive fee ONLY, and if the fund suffers from a loss, then the management shares that loss with the investors. This little step could immediately filter out the snake oil salesmen, who we all know are rampant in the industry.