Monday, October 29, 2007

Lookin' into the Future Pt. 2

"I've learnt that if I can't finish posts up, and/or haven't the time or effort to proof-read my posts, sequencing them part-by-part would be so much easier on myself and you guys. So here's part II."

Look at where all of us are today? It's been a year, and everyone seems to be getting along well with whatever they're doing, mugging and all. Soon the guys will go to NS, and the girls to their respective universities.

We're growing up.

Who knew what was in store for us in the future?

Love? Fortune? Success?

This wasn't exactly what I had in mind when I was pulled into one of those palmistry booths during the Halloween Party@ Escape Theme Park.

Why? It was either that or the tarot reading, or gawd forbid, indian fortune-telling (it involves a bird picking a card, of which it would be read off and interpreted by the wisecrack).

So alright, I'm still not the superstitious kind, but hey, it's worth a shot, no?

I'm talking about chinese palmistry, not indian fortune-telling.

I don't know about you people, but I ain't gonna even -bother- listening to some turban guy with an intoxicated bird dancing around on some colourful mat, picking out a card that's going to tell me my future. I wouldn't have one anyway, after I take a whiff of its over-perfumed incense.

I think the bird's high on it.

Anyway, skeptical me entered the booth, and I was greeted by a gypsy.

No shit, we're talking curly hair, shiny white teeth, earrings mimicking aztec culture, a white plain-cut blouse and a crystal-ball.

"Take a seat," she said, as she stretched her arms out waywardly, an obviously sign of fatigue.

I raised an eyebrow, and sat on the unforgiving frigid steel, its piercing wintriness numbing me. Didn't the last guy who sat here just leave? Damn, he must have freakin' cold buttcheeks.

"So, you want your fortune to be told?" She inquired, her calm and steady voice a perforation through the chatter of the queue only a mere metre away from where I was sitting now.

"Alright?"

"Stretch out your hands. (sic)" And I did, my fist semi-clenched, not knowing whether to show her my palm or the back of my hand first.

"Stretch out your hands properly," she repeated once more, this time with a hint of exasperation. I quickly heeded orders.

She took my hand, placing a well-trimmed nail at a line of which cut diagonally through my hand, her perfectly manicured hands feeling the crevasses of which were supposed to whisper to her my destiny.

She looked up, and straight into my eyes. Not one to avoid eye contact, I stared back. Then, she smiled.

"Your hands are clean," she waited for my response.

"Uhh, yeah. I kinda washed them just-" I couldn't resist such a comeback.

"- I mean it in another sense. You haven't sinned with these hands before, have you?" She raised her eyebrows at me, and only then did I notice the extremely thick mascara that she put on her eyes...

"Well, I've sinned alot..."

"I mean, stealing. Killing. Things like that." It was clear she knew I was playing her.

"Well, if you put it that way, no."

She smiled, as though comforted.

"Good. Because the hands never lie. You'll grow up to be someone honest..."

Honest? Hah.

"... Someone sincere... "

That'll be the day.

"... Someone who's true to not only yourself, but to everyone else around you."

"... Uhh, okay?" I was clearly unconvinced.

"Cherish those around you right now. You'll be surprised how many good friends you have."

"..."

"So! On with business. Okay, and so, this line is..."

She pointed out the corresponding lines and their attributes, and gave me the general idea on how things were going to be like.

So far, I am going to...
  1. Live to about the seventies - eighties.
  2. Have shitty luck with money early on, only to be much, much richer in the future.
  3. Gonna get quite a few opportunies early on in life, but I would have to learn how to recognize them.
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Here's where skepticism comes along.

If you think about this way, advancements in modern technology in half a century would -probably- get me breathing through a tube if my body does fail before I reach my seventies. I would, in the most literal sense, be a zombie.

As for money, I'm dirt-poor right now. I'm not kidding. As of now, I have... *checks wallet* 8 dollars and 55 cents. Well woop-tee-doo to my being rich in the future, I could be -ten times- as rich as I am now, and only have 85 dollars. Proportionality loopholes aren't funny.

Opportunities? Come on, lah. That happens to -everyone-. You just need half a brain to -realise- that what you're being offered is an opportunity right there, most of the time. Of course, such "opportunities" are usually dumb-ass risks you'll have to take in order to gamble for your success.

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I was hemming and hawwing to the vague references towards my supposed fortune, and -then- she becomes all serious-like and warns me.

"Be careful when you reach 40. An illness may catch you off-guard... Probably something to do with the liver."

What about cancer? That would be SO much more melodramatic.

"I'm serious about this. Don't drink so much right now. I can see that you booze quite abit."

"Huh? How do you know?"

"I just know." Ooh. Creepy.

"Okay! So, interested in your love life?" She suddenly perked up, and grinned a toothy one.

I was suddenly intrigued.

I was struck with a prediction that I couldn't believe.

"You're going to have.. hmmm. I can't tell for sure, but at least two sons here," she was using a magnifying glass now, hunting for any clues that would give away my strength in fertility.

Wait.

Hold up one second.

"What do you mean two sons at least?!" I was flabbergasted.

"Well, you'll just have to be careful there, won't you?" She gave me a knowing wink, of which I shrugged off nonchalantly.

Then came the final blow that would probably affect me for a very, very long time.

"Try not to get married before you're 28, of it would end in tragedy."

OHSHITTHEREGOESMYHOPESFORANEARLYMARRIAGEOHGAWDDAMNIT.

"... Huh?"

"Well, you can choose to heed the warning or not, it's up to you. So just have fun now, and take your time to choose your soulmate."

"... Huh."

"Mm, is there anything else you'll like to ask me? I'll try to answer it if I can."

And so I asked her about my near future, of which I was certain she couldn't tell. I needed re-assurance of some sort about the promos.

"Let's see here... Well, you're going to have to take a short break from your studies for awhile as you focus on something new..."

Awshit.

"... And you'll probably be working and studying at the same time soon after. But don't worry about this, everything will turn out fine soon after this."

"And?" I inquired further.

"That's all I can tell. Now, good luck now. Oh, and be careful of the things I told you about."

"Thank you, happy halloween."

"And to you too, dear boy. You'll turn out fine, don't worry."

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I return home and told my mum about the gypsy's predictions, only to realise that my eight characters speak of almost the same things.

There were some other revelations that were alittle too similar for comfort.

A mere coincidence, or are our destinies already set?

And I end off with a quote from my father's analogy on life, via presentation of the tangible.

"Some people have it, some people don't. You understand?"

"Okay, let's put it this way. However much make-up an ugly girl puts to beautify herself, she could never be as pretty as the pretty girl with light make-up. And no, don't count plastic surgery."

And I guess that's how Life works.

Donovan did it again @ 8:40 AM

Sunday, October 28, 2007

Lookin' into the Future Pt. 1

"His success may be great, but be it ever so great the wheel of fortune may turn again and bring him down into the dust."

I can't believe I had to wake up so early on a Friday morning.

9am. Who the fudge wakes up at 9am?!

And no, it doesn't bother me that I had school. *whistles* The last day doesn't count.

So, I had to drag my ass down to Yishun (the irony!) and get stuff for the barbecue, and then head down to Downtown East to set everything up, all on a Friday morning.

But hey, it was a learning experience, albeit a tortuous one.

I've learnt that-

1. Girls can knoll (knell? meld? held?) marinated squid well, no matter what. Wait, do you actually need skill for that task?

2. Subway on an empty stomach is sheer delight. Whoever knew that Cold Cut Trio on a warm summer's day could be so heavenly?

3. Yixuan is -ALWAYS- late. Confirm, guarantee, plus chop.

That said, everyone hasn't changed; They're still the same goofy bunch of people I've come to adore. I doubt there was much change. Or at least, judging from my recollection of them. A few of them still retained their gifted attributes.

Son is still un-taopok-able. Four people tried to take him on. Four people, and all of them failed miserably. Think Hulk, but much shorter, and 34,359,639,834,502 times more mathematically efficient.

Oh, and I lagi buay tahan Nathanael. I believe he was the one who came up with the "Curse of the Bridge". The curse is of deadly accuracy, and targets each and every one who attempts to test this curse. And I quote, "When you first step onto the bridge, you will be cursed to get to the other side *cue spooky music*". Think about it.

What.
The.
Fuck.

Aaron was still as whimsical as ever, the little prick. He played Chubby Bunny (idea courtesy of our ever-insane-Pamela), and got seven marshmellows in his mouth. Both Han Hui and him went to 'kacau' Sarah's boyfriend too! The poor sucker must have had it hard.

I would join in the fun, but I was too late. They disappeared before I even knew.

Some people just have all the fun.

Joker also called Hao Bo about 10 (?) pm, and was greeted by the asinine barbarian with a "I'M SLEEPING LA -cuts line off-".

P.S. Which reminds me, I still owe Jiahao a blogpost of me insulting Hao Bo. It'll come soon, don't worry. Must wait until he does something stupid... Which means we don't have to wait very long.

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Oh, and Jay's On The Run is going to be out soon. As much as I can't stand him, I gotta give respect, man.

As much bullshit he does throw around every now and then with Busy Cowboy(Nu Zai Hen Mang) and Listen to your Mother (Ting Ma Ma De Hua), even his shittiest had catchy tunes. That, and "Wo Bu Pei" and "Qing Hua Ci" were masterpieces.

Just for that, I'm obliged to forgive his dual-piano playing cockiness in Secret. And his Meteor-Garden-esque "Tian Tian De".

I'm almost beginning to be impressed by him. Even envious.

I blame this on Mei Gui and Jia Hao Gead. Jia Hao will be henceforth known as Gead. 'Nuff said.

Because he has a big head. Literally. And because he owns in mahjong. And piano. Pui.

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Okay, I just realised that I digressed too much and went off-topic.

Don't care.

-TO BE CONTINUED-

Donovan did it again @ 5:00 AM

Saturday, October 27, 2007

Stranded

"Some people should just die and return their carbon to the face of the earth so that something more useful, like a weed, can grow."

10.58pm

"I guess it's time for us to leave now," I muttered as we prepared to leave Utopia.

A hot shower just before left me with heightened sense as Nat and I raced down the concrete boulevard to catch the last bus out of Downtown East.

No luck. The last bus left minutes earlier.

My watch beeped as I glanced at it. I had only half an hour more to reach home before all hell was let loose.

I scanned the surroundings- There was no other choice but to walk. It was about a two kilo-metre walk; Sprinting there would shave off the precious time I had left though. A taxi was hailed.

11.07pm.

"We're gonna miss this last bus," I said as I alighted from the vehicle, a stone's throw away from the bus interchange.

"No we're no-Oh shit." A large crimson vehicle with an frontal incandescent 88 aglow sped past us.

"Great, that was the last bus, right?"

"Ya."

We decided to walk to the bus stop ahead of us, to see what other buses there was.

11.13pm

Another Number 88 sped past us.

"What the fuck?" I shook my head in disbelief as Nat comforted me.

"So now we know that's the last bus. At least you can take Bus 89 home."

"Oh yeah, I coul-Aw SHIT."

A quick turn of the head revealed Number 89 just around the corner of the traffic junction. A traffic light was its cessation. I signalled towards the bus captain, trying to persuade him to slow down. He shook his bald head. One could only board or alight buses at respective venues, namely bus stops.

"No, uncle, you don't understand. I'm not trying to board the bus, I just hope you'll slow down," I shouted, my shrill voice piercing through the engine's roar.

He shook his head, now marred with a disgruntled look.

"He doesn't get it. Let's just make a run for it. He'll understand then," and with that, Nat sprinted towards the next bus-stop, an estimated 300m away.

I followed suit, my long legs perfect for such short distances. My Adidas carryall, however, was not-so-perfect.

Unfortunately, abeyance was beyond the puny brain of this woodland creature. Upon seeing two teenage boys sprinting towards the very next bus-stop, the fucker ACCELERATED past said bus-stop. No amount of words could describe the displeasure (read: killing tendencies) I felt then.

11.17pm

"Die."

"Okay, let's just return to the interchange. Maybe we can work something out."

It was a dreary kilo-metre walk back, as I described various methods of which I could use to disembowel the dumb fuck.

11.36pm

A call had to be made, since most of the straight-journey buses were missed.

Mother wasn't too happy.

"Hail a cab and come home right now." That was all she said. It was enough to make anyone shit bricks.

"But..."

That half-witted response ensured my swift death via caterwauls (it's true, anger+middle-age woman= AHHH MY EARS).

My plan was to take Number 58 to Serangoon, then switch to an MRT via the North-East Line back to Sengkang. It was the most cost-efficient way, since there was no doubt that the taxi fare was going to come right out of my pocket, burning a hole twice as big due to it being midnight charge.

She relented (we call this the eye of the storm).

11.44pm

After refusing Nat's gesture of his mother sending me home (it wasn't in the way, and I hate being a hindrance), I boarded Number 58 with him.

Just when I was rattling on about how I've to figure out a new plan should I miss the last train home from Serangoon, luck changed for the better.

"So if you miss the last train, then how?"

"Walk home, la. Singapore so small, scared what?"

A Good Samaritan gestured towards me and told me that 58 does pass by IKEA Tampines, and that I could-

"Take 27 home! Genius!" I cried. There was a way out of this!

She just smiled.

"Wait, WeiWen. What if the last bus for 27 has already left?"

"It won't, I know it," she smiled again, confidently.

"That's a risk I'll have to take, then." I simpered.

Melodramatic.

11.59pm

"Just cross this junction, and wait for the bus there," the woman pointed towards a pitch-dark spot, with a pathetic looking stop-sign protruding from the side of it. It was bizarre, as its surroundings was brightly lit by overhead lamps. It looked nothing like itself in daylight.

Man, why does it have to be so creepy at night.

"Hey man, be careful, alright?" Nat's thumbs-up sign boosted my confidence.

Alighting the bus, I sped across the busy causeway, hoping as hell that my bright clothing would ensure my safety.

Just then, a familiar vehicle approached, its lambent 2 and 7 lighting the darkened bus-stop.

My fleet-footedness put me right in front of the two-storey vehicle. On hindsight, it might have been fatigue clouding my decision-making. Obviously, it screeched to a halt as I boarded it, its passengers staring at me in disbelief.

"Eh, boy. Siao arh? Want to die is it?" The elderly driver was none too happy.

"Paiseh, lah, uncle. Need to reach home early." At this, he lightened up and smiled.

"Don't worry, 27 last bus is 1 plus. You still have alot of time. Next time don't do this again, okay? I stop, never mind. What happen if I never stop?"

"Die?" I have this bad habit of replying rhetorical questions.

"YA LA!" His outburst startled me, along with half the passengers aboard.

"But never mind, you safe then okay already."

"Orh. Thanks ah, uncle."

12.19pm

An SMS was received as I alighted the bus. It was from Nat.

"Eh, if you miss bus, then don't tire yourself out. Tired then take a taxi. Dangerous to walk home at night. Life more important."

I laughed. I replied him as I turned the keys to my front door.

"Don't worry la, bro. I'm already home. ;)"

His next reply?

"Wtf"

What an adventure this has turned out to be.

Donovan did it again @ 10:36 AM

Friday, October 26, 2007

Inevitable Imminence

"Talk about having a deep moment."

The chalet site was so quiet; so... tranquil. The rustling leaves amongst the grassy fields which surrounds the crimson-brick constitution. Barbecue pits alfresco, a theme park and the beach a stone throw away; what more could one ask for?

As the sun set, one could see throngs of holiday-makers streaming in, setting up their picnics, barbecues, events, etc. Balloons and streamers hanging from gazettes, laughter filling the air, a cornucopia of pleasure.

No quarrels; no fights. Sizzles took place of harsh words, meat filling the orifices of which it would usually emanate from if left unchecked. The only outbursts would come from the over-excited children who were probably hyped up by their increased glucose intake.

No frowns, no sneers, and certainly no hypocrisy. No envy, no jealousy, no malice.

Happiness...

... It's almost like paradise.

A world of its own, sundered from the residuum of hatred, ignorance and brutality.

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Utopia.

Strolling casually away from worries, the eye would notice the vast expanse of the sea. What are we working towards? What would the future bring?

Stretch your hand out.

Our horizon is in sight, but could we ever reach it?

I remind myself- The destination is a journey by itself.

Donovan did it again @ 7:26 AM

Monday, October 15, 2007

The warmth that never was

"So it's all over now. Woop-dee-doo."

One Flesh

Lying apart now, each in a separate bed,
He with a book, keeping the light on late,
She like a girl dreaming of childhood,
All men elsewhere - it is as if they wait
Some new event: the book he holds unread,
Her eyes fixed on the shadows overhead.

Tossed up like flotsam from a former passion,
How cool they lie. They hardly ever touch,
Or if they do it is like a confession
Of having little feeling - or too much.
Chastity faces them, a destination
For which their whole lives were a preparation.

Strangely apart, yet strangely close together,
Silence between them like a thread to hold
And not wind in. And time itself's a feather
Touching them gently. Do they know they're old,
These two who are my father and my mother
Whose fire from which I came, has now grown cold?

Elizabeth Jennings

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This was one of the poems for H2 Literature, the motif being marriage. It's such a beautiful piece that I couldn't help putting it here for all of you to appreciate. I'm from H1 Literature.

So you guys should totally appreciate it.

Now.

Yes, scroll up and read the thing. I know many of you just skip that.

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Mm, the exams are finally over. Man, the real anxiety starts now. I'm freaked out for results, and it's been like, six hours since the end of the last paper.

Urgh.

The last few days have been one of the worst times of my life... as of yet. After studying non-stop for the past few days, I think I may have reached my limit break.

Why? Procrastination, that's why.

Economics went fairly well, but I didn't finish section B of one of the DRQ. Needless to say, 0/8 marks right there. For sure.

Bah, Mrs Koh was nice enough to tell me to "forget about that and focus on others".

Right. That spelt the two-day crash course on mathematics with dear Miss Phoon. She taught me the entire syallabus in two days. I kowtow to her, sia. I actually understood the lot of them. Unbelievable.

That was until I made a serious mistake.

But I knew I lacked practice, so I actually went an entire night of pure muggage, before sleeping for 2 hours before going for the exam. I'll sleep when I die.

So, an hour later, I felt my stomach grumble. Yep. Diarrhoea. No idea what caused it too.

Well, that may be unlucky, but that wasn't the mistake I made. I actually drank strong coffee right before the maths exam, just to "perk me up". Very bad idea. It was a three-hour paper, and I ended up going to the toilet for about close to half of it. But I did semi-finish the paper, up to question 13. (The last question was 14)

The end of the exam also spelt the end of me, too. I flipped back, and saw... Question 4, 5 and 6 was left undone. Unattempted. I only wrote the question number down. *facepalm* And those were the easy ones, if I remember right. Maclaurin's Series, AP-GP and all that useless junk.

Sigh.

But meh, what's over is over. I was pretty devastated about it, till Siow Ying told me to look for a teacher and explain what happened, not that it had any bearing on my results. It was to no avail. I was told, though, to provide an MC to certify my being sick, which I did, but I doubt it'll be considered as an excuse. YJC doesn't put up with excuses.

So, I dragged my sorry ass to the clinic and back to school of which a physics teacher taught me all that I had to know. Mind-blank moment. I knew from then on it was limit-break. With less than four hours of sleep over the past three days, I just couldn't continue. Lesson learnt. I tried my best to absorb all that I could, and then continued mugging for that entire night.

The next day was almost as bad. Physics turned out to be -horrible-, and I don't think I fared well for the literature one, either. I failed to see that the poems were, indeed, about sex.

Anyway, I'm dead beat from all the incessant information-absorb the last couple of days. Heading out to bed, with sweeping, strained relief. Hope I actually get promotional advance. (Which I doubt so, I'll prolly retain.)

So there, I knew that procrastination and sloth would catch up to me some day.

Guess it just had.

Donovan did it again @ 9:27 PM

Friday, October 05, 2007

Econo-Academia

"ELAS-CITY ELAS-CITY ELAS-CITY."

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Author's Notes:
THIS IS A TRIBUTE TO ALL ECONOMICS STUDENTS.
OH, AND THIS IS TOTAL BULLSHIT.

(That means that the majority of the stuff here are just pure nonsense.)

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Econo-Academia

Define...

- Econo-Academia: Economics in academic context.

- Elasticity: The thing in rubber bands that make it go "boing".
- Demand: What I want.
- Supply: What you are supposed to give me.
- Monopoly: Board game by Parker Brothers.
- Firm: Not soft, not hard. Just nice.

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Topic: Study Failure and Parental Intervention

Study failure occurs due to externalities, merit/demerit goods and public goods. (Merit/demerit goods and public goods are not touched upon as the author is a lazy-ass bitch.)

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1. The Common Sense Mechanism

Studies use the common sense mechanism to allocate its scarce resources, usually time. It works automatically to allocate efficiently, with the end result being the maximization of personal benefit.

It is able to do this only if the following assumptions hold:

1) The entire cohort is perfectly competitive.
2) There is no externality.
3) Information is perfect.

However, in the real world, there is a failure due to the breakdown of the above assumptions:-

- There is inadequate information and immobile resources.
- The existence of externalities bring about partial study failure in the under-production of merit goods and over-production of merit goods.

In such instances, the role of the parent is to intervene in the individual towards a more efficient allocation of resources. When an individual does not result in an efficient allocation of resources, the individual or his studies is said to "fail".

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2. Study Failure

Study failure can be defined as the inability of an unregulated individual to achieve good results in all circumstances.

Good results is obtained when there is constancy in work done and an adequate understanding of learnt topics.

It is attained when the amount of time allocated to its production of knowledge is such that the marginal private benefit is equal to marginal private cost. [MPB=MPC]

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3. Some Important Concepts

Before we continue, it is of utmost importance that we understand some of the concepts that will be used in our analysis.

(a) Private Benefit: It is the benefit to the user from the consumption of a good. E.g. A user would be "full" of knowledge after eating a book.

(b) Marginal private benefit (MPB) : It is the additional benefit to users from consuming one more unit of the good. As more of a good is being consumed, the additional benefit to the consumers will fall. Therefore, DD=MPB. It means that users are usually super "kiam siap" (stingy) and will only pay the least that they can.

Note: Does not only apply to Singapore.

(c) Private Cost: It is the cost bourne by the individual such as time, respect, money, etc.

(d) Marginal private cost: It is the additional cost to individuals for one more unit of the good produced. As more units of a good are produced, the MPC will rise due to the law of diminishing marginal returns.

(e) Externalities: It can be a spillover cost or benefit that affects someone not directly involved in the consumption or production of the good and it is incurred without compensation.

- An example of external cost would be when a teacher screws up while teaching a class and causes the entire class to fail, he imposes an external cost on the students in terms of decreasing their productitivity. Such costs are not borne by the asshole, since he is only concerned with himself.

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4. Welfare maximization: MPB=MPC

MPB=MPC is the criteria for an efficient allocation of resources to maximize personal well-being. Thus, if the individual does not produce where MPB=MPC, he or she would be allocative inefficient resulting in a failure to maximize welfare. In such circumstance, the individual or his studies is said to have failed.

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5. Market Failure due to externality

In a free environment, the individual would only take into account his private costs, and ignore (or are unaware of >.>) the wider social costs and benefits. In this case, the common sense mechanism is likely to fail in bringing about an optimal allocation of resources.

[To put it in layman terms:

The majority of students succumb to laziness if left unattended to. They ignore the social implications like their failing of examinations and tests, so as long they can stay in the system. With that said, they usually have little or no common sense.

Why?

That is due to a inverse proportion between distractions and common sense. The higher the amount of distractions in your life, the lesser amount of common sense you have, and vice versa.]

In order to correct such externalities, parents have to intervene.

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6. Parental Intervention to Correct Externalities

To correct externalities, parents can use a slew of measures. Which measures they use will depend on the type of externality that occurs.

(i) Limiting

Parents can impose a limit that is equal to the marginal external cost. By doing so, individuals are forced to allocate their time towards knowledge-production, otherwise known as "studying".

Note: In the real world, there would still be some sort of negative externality remaining still. This is due to the obstinate individual insisting of not studying, following a "die-die must play" attitude.

Advantage: Many parents favour this solution because it still allows the individual to operate. By doing this, the individuals may be encouraged to find faster, more efficient ways to study. This limit thus acts as an incentive to reduce inefficiency in the long run: the faster the individual finishes his work, the more time there would be for him to slack.

Disadvantage: However, finding the correct amount of time to limit to eliminate efficiency loss isn't likely to be simple. Some things are very difficult or impossible to express accurately in terms of time. If we over-estimate external costs, we will tend to levy excessively high limites that more than correct for the actual external cost. In other words, the parents will piss the individual off for being "unreasonable".

(ii) Imposition of rules and regulations

Rules can be used to prohibit or regulate behaviour, usually by force, and/or punitive measures. For example, the individual should get good results in order for him to continue staying alive, or risk getting nagged to death by parents.

Advantage: Such measures directly reduce the level of negative externality to the desirable level, and are usually better than limiting. Furthermore, in most circumstances, parents have a better idea of the acceptable level of negative externality such as slacking than the amount of limit that would lead to that result. Rules and regulations are simple and clear to understand and are often easier to administer.

Disadvantage: The main problem of this is that they tend to be a rather blunt weapon. There would not be an incentive for the individual to reduce his slacking below the stated level. No matter how fast the individual finishes his work, he would still have to sit out the entire time allocated for his studying. Pfft. Furthermore, in order for the rule to be effective, the penalties of breaking it must be harsh and inspection or spot-checks must be frequent and rigorous.

(iii) Ban

This only happens in extreme cases, only if either party (the parent or the individual) is insane. You get the drift.

(iv) Parentalization

If the individual has a detrimental effect over his well-being, parents may be forced to take over his role completely, e.g. the sitting of examinations.

However, parents may not have information of the tested topics, and thus do not know how to do the papers.

- - - - - - - - - - - - - -

7. Pseudo-Coase Theorem

Ronald Coase criticized parental intervention such as limiting and rules to correct externalities as he felt this will lead to greater inefficiency due to lack of information. He argued that whenever there are externalities, the parties involved could get together and make some negotiations to ensure efficiency. Thus, parental intervention may not always be necessary. However, there are three necessary conditions before Pseudo-Coase Theorem can be applied:

1. The word of each party should not be broken.
2. There must only be a low cost of negotiations, with little or no strings attached.
3. The source of externality must be well-defined.

As such conditions are often not satisfied in the real world, Pseudo-Coase Theorem is at most a theoretical exercise. However, it is still an important theorem as it forces parents to re-look at the way they tackle externalities.

- - - - - - - - - - - - - -

10. Conclusion: Cost-Benefit Analysis

This is an analysis by parents to measure the desirability of their intervening. They will weigh the individual's benefit against their own cost. If the benefit exceeds the cost, they will consider intervening without hesitation.

Yet, it's absurd that they would usually...

Limit-> Impose Rules -> Ban -> Parentalize.

Given that parental measures may have both benefits and costs, it is necessary for them to carry out such an analysis to assess whether their measures will lead to net welfare gain or loss.

Yeah, think about it.

Lecture over.

Donovan did it again @ 9:35 AM



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