16 Dec '11, 4am

SMRT says sorry for 'income opportunity' alert - Yahoo! via @yahoosg

This is outrageous. SMRT announced that affected commuters could refund their fares within 3days. The fact is that for such incidents, there are bound to have people who did not claim their refunds. Not to mentioned the time wasted by those who did. SMRT is not punished for their mistakes but are rewarded instead (at least in monetary terms). That explains why there are so many breakdowns, coz SMRT has incentives to do so. This is a very good example of Moral Hazard. SMRT should be made to repay affected all commuters 10times to 100times of their fare, automatically.

Full article: http://sg.news.yahoo.com/%E2%80%98they-don%E2%80%99t-seem...

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