Yes, that reminds me of knowledge tracing and methods like 1PL-IRT.
I think you can do both and get even better results. The main limitation is that the same flashcards must be studied by multiple students, which doesn't generally apply.
I also love the idea of the market, you could even extend it to evaluate/write high-quality flashcards.
I think you can do both and get even better results. The main limitation is that the same flashcards must be studied by multiple students, which doesn't generally apply.
I also love the idea of the market, you could even extend it to evaluate/write high-quality flashcards.