Overnight News: Gaming “Artificial Intelligence” is as easy as selling your white elephant to an iBuyer.

Here’s a true fact about iBuying: The sellers are gonophs. Home-sellers are often gonophs, of course, and, even if not, the information asymmetry runs all their way: Neither your Buyer’s Agent nor your home inspector is likely to identify that semi-annual drainage problem.

But many of the sellers who turn to iBuyers do so because they believe – correctly – that the iBuyers are idiots who will buy any pig in any poke. The seller knows everything he didn’t know about the property when he bought it – the negative externalities that make it sell consistently for 4% less than model-match comps – and he’s betting that the iBuyers will be too dumb and too rushed to see their pricing mistakes.

Gaming “Artificial Intelligence” will be the extreme sport of our young century. Whether or not there are actually any “machine learning” “pricing algorithms” behind the bloviating iBuyers, the sellers are gaming them astutely.

In other news:

Jonathan Tobin: If The GOP Wants To Remain The Party Of Parents, It Must Fight For School Choice.

The Los Angeles Times: Faced with soaring Ds and Fs, schools are ditching the old way of grading. Daycare gonna daycare.