SINGAPORE – Despite surge pricing, especially when it is raining or during an MRT breakdown, Singaporeans feel like they have no choice but to accept the higher costs when using ride-hailing apps, research by three National University of Singapore professors showed.The book aims to help people understand how Singaporeans make economic decisions, and also provides tips on avoiding the pitfalls of acting simply based on gut feeling.
Supplemented with comics, the writers hope to make dense academic research accessible to even “my 10-year-old daughter”, said Professor Sumit Agarwal, one of the three authors of the book. “Obviously, the world is a complex place and we cannot solve all the issues but we try to help the policymakers and the private sector make better policies and better products.”
They also discussed the profits and conveniences electronic payment have brought to banks, businesses and buyers by eliminating the use of cash, as well as how retirees who are on government subsidies are spending their money.