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26-08-2013, 10:30 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
This just came in at the currently broadcast 9.30pm news on Pay as you bid COE system. I think this system makes a lot of sense. If you want the COE, you give it a value. If you want it badly, you bid higher and you pay according to what you bid.
But an "expert" commented on the news that this is not an efficient system. This is what Prof Ng Yew Kwang - Division of Economics, NTU says.
"Under the Pay As you Bid system , everyone must underbid, and then different people have different psychology. Some underbid by a lot, and some underbid by less. Then the item may go to the wrong person, to the person who may not value it very highly"
Can I ask for help here - what exactly is this expert saying????
Is he saying COE must be valued highly so that it goes to the right person?? Funny expert leh!!
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?161119-Pay-as-you-bid-COE&goto=newpost).
This just came in at the currently broadcast 9.30pm news on Pay as you bid COE system. I think this system makes a lot of sense. If you want the COE, you give it a value. If you want it badly, you bid higher and you pay according to what you bid.
But an "expert" commented on the news that this is not an efficient system. This is what Prof Ng Yew Kwang - Division of Economics, NTU says.
"Under the Pay As you Bid system , everyone must underbid, and then different people have different psychology. Some underbid by a lot, and some underbid by less. Then the item may go to the wrong person, to the person who may not value it very highly"
Can I ask for help here - what exactly is this expert saying????
Is he saying COE must be valued highly so that it goes to the right person?? Funny expert leh!!
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?161119-Pay-as-you-bid-COE&goto=newpost).