<p>Hmm, okay, I'll bite.</p>
<p>Unlike IIT, admission to Caltech is not based on a numerical ranking earned on an examination. </p>
<p>Like most of the other top universities, we don't accept the premise that merit is possible to measure or even very roughly estimate with a single exam. Consequently, we pay attention to a variety of factors when judging which candidates have the best combination of intellectual potential and the ability to realize it. For instance, while IIT's admissions process would not take into account that a student invented a novel cryptographic algorithm, our process would take that into account. </p>
<p>We think it is more meritocratic to look at all the evidence of brilliance in a candidate, rather than restricting ourselves to a single measurement. An analogy will help: two men are seeking buried valuable coins. One of them only examines the coin's size to see which coins are worth keeping. The second also takes into account the material, the shape, etc. IIT is more like the first prospector, and we're like the second. The second has a better selection process, because obviously, a number of factors determine which coins are worth a lot, not just their size.</p>
<p>On the other hand, we do not have an explicit or implicit admissions policy valuing factors irrelevant to excellence in math and science, like "well-roundedness". Getting people with particular ethnicities, genders, piano abilities, basketball talents, and the like, are not goals of our admissions process. </p>
<p>Of course, context does determine whether someone's achievements are amazing or merely expected. A poor, Hispanic orphan from the Chicago ghetto placing in the Intel competition will be more impressive than a the child of Ph.D.'s from a posh private school doing the same thing, but not because we value students for being poor or Hispanic. It's just that starting very low in the intellectual world and rising very high is more impressive -- on a purely intellectual basis -- than starting high and rising slightly higher, and I'd bet on the kid from Chicago to win the Nobel prize over the other kid.</p>
<p>A pure exam system cannot take any of that into account. By IIT's standard, if the kid from Chicago scores in the 99.8th percentile of an exam, he still has "less merit" than a kid from private school who scores in the 99.9th percentile. We think that's silly, and we think it just plain gets the wrong answer to who is more impressive, who will achieve more academically. That's why our system is better and more meritocratic.</p>