You seem to be ignorant of the basics of demand.
I suggest you watch this video :
https://youtu.be/ShzPtU7IOXs
Once surge pricing is established a certain segment of the commuting public who used to take taxis between 7 am and 8.30 am will now no longer be able to afford the trip so they'll end up having to take a bus or train instead.
The price increase from allowing surge pricing will cause a drop in demand for taxis during peak hours so those who can afford to pay a higher price will find it far easier to get a cab.
they already have something called peak hour surcharge so why doesnt that work?and how do they find the sweet spot between people choosing not to take cabs and cabs not finding enough passengers due to overprice,in that case why not allow flexible pricing so taxi drivers can adjust their fares according to the current market situation?dont u find it retarded that taxis have a 50 percent midnight surcharge when theres barely any fares,and so many empty taxis zooming around?why not let taxi drivers slash prices by 50 percent?they know if they let drivers set their own prices,these will spark off a competition and eventually taxi drivers will compete each other to death.and if the problem is a matter of lack of supply during peak hours,wouldnt the logical solution be to increase the number of taxis to absorb the excess demand?because no matter how u try to twist the numbers,eventually the numbers will find a equilibrium and u are stuck earning the same amount of money while those that are priced out of the market guess what u have lost out on the opportunity to exploit that market.......its like APPLE making ipods and iphones for $10,000,only the top 5 percentile of the population can afford them,Apple would have lost out of 90 percent of the market.Its like the Lisa,and Mac and NEXT computer,steve jobs made them far too expensive and far too useless thats why they all failed miserably,nobody wants to buy $10,000 personal computers except for the most diehard apple fantards.
let me ask u why does coe and erp not work?the roads are always fucking jammed in the morning,in fact the roads are fucking jammed all the time now at all kinds of strange hours theres always a jam going on.what a joke,i take public transport 98 percent of the time,the 2 percent of the time i take a cab,the goddam roads are always jammed.maybe PAP should increase COE to $1 million?and take away bidding,cause if u are letting people bid the price,they are only going to pay what they can afford,eventually the market will find a equilibrium and stablize at a point,but the traffic is still going to be fucked up anyway.
all economic theories must take into account human behaviour or they are useless garbage theories,all einstein's law dictate that all humans are retarded so theres no point.the price must increase to a point where it actually hurts the consumer for it to be effective,however those who already decided they are going to take the public transport have already made up their mind long ago and left their house early,those who are going to take the taxi will take it anyway and those who are late or overslept which a certain portion of humanity always does will fork out the money.
