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Implications of Prospect Theory on Road Pricing

Article  -  Anthony T. H. Chin

While the economic costs of traffic congestion are well documented, the effectiveness of economic instruments, such as road pricing, in containing traffic congestion is less clear. Prospect Theory, a leading behavioural model in experimental economics, may explain inelastic driver behaviour in response to road pricing during peak hours. It may also shed light on the phenomenon of consumers who continue driving despite its higher economic cost relative to other modes of transport.

Opinion: The Singapore Model of Workfare: Three Suggestions

Opinion  -  Hoon Hian Teck

In a market economy, pay and volume of joblessness are jointly determined.

Singapore's Social Support System: Two Anomalies

Opinion  -  Chua Hak Bin

The Singapore economy is rising with the tide of globalisation, but not everyone appears to be prospering equally.

Wage Inequality, Intergenerational Mobility and Education in Singapore

Article  -  Ho Kong Weng

Wage equality and intergenerational educational mobility may be in long-term decline in Singapore.

Workfare: The Fourth Pillar of Social Security in Singapore

Article  -  Jacqueline Poh

Singapore’s latest labour policy is more than a wage supplement scheme—it is a bold new addition to the social safety net in today’s volatile economic environment.

Quality of Life in Singapore

Article  -  Tan Li San

Can Singapore become one of the world's most liveable cities in the 21st century?

Marina Bay: The Shape of Things to Come

Article  -  Benjamin Ng, Ching Tuan Yee

Singapore's new waterfront business district will feature state-of-the-art infrastructure and urban design features.

Aid for Work: The Singapore and US Models in Context

Article  -  Theresa W. Devasahayam

Theresa W. Devasahayam examines Singapore’s workfare strategy in light of the US model on which it is based, and finds key points of departure that could inform policy development in future.

Growth with Equity: The Challenge of Income Distribution

Article  -  Kenneth Chan

"…the issue is not how much inequality there is, but how much opportunity there is for the individual to get out of the bottom classes and into the top."– Milton Friedman

Making Workfare Work: The US Experience — Interview with Lawrence M. Mead

Interview  -  Theresa W. Devasahayam

New York University’s Professor Lawrence M. Mead discusses workfare and income inequality in light of the US experience after a decade of welfare reform.