Exams are over and i can blog already.. but..

I have no ispiration at all!! alamak. when i was having exams i thought of so many things to blog abt.. but now i hav nothing interesting to say at all.. ok lar i shall talk abt my work yesterday.

Anw me evon kaylii eric n jasmine were at orchard working yesterday. Doing surveys. good money leh cos one survey can earn $8. so simple right 10 surveys $80 alr.

But it was so damn difficult to get ppl to do survey! The survey is so long winded den the surveyees are still required to go upstairs to do food tasting. u tell me lar which person in the correct mind will follow you up? Esp if u are a male? -_-'''

Thanks to yongxi seylong shichang and elvina, who came down to help me with the survey. otherwise i dun need to earn money alr. you wont wan to know how much i earned man. MISERABLE.

We all ended up slacking from 3pm onwards.. went walking ard orchard hahha. but we werent in the mood for shopping and ended up jus sitting round a foutain to stone. eric fell aslp.

Well i hope i managed to get slightly tanned..
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Bwahahhaha spirits are always with you!

Hahahah, any bleach or anime fan will know wad I am talking abt... I tell you I am so addicted to anime now!!! The weekly wait for the next episode of bleach is so tortourous that I bet smelling ammonia is much more heavenly. Loser me got so addicted to it that in the MIDST of exams, i watched 53 episodes of it!!! in like, 3 days?! If i dun do well for exams i deserve it man. (If i still do well den it jus shows tt i am a genius. bwahahhah spirits are always with you! ok ok i am irritating)

Anw.. Miss 31 has always been a great fan of japanese anime, and i USED TO wonder why she can watch and watch non stop. even when i borrow vcds to watch i also can force myself to stop. I mean, how interesting can 2-D images be? Its cartoons lor hellooooo. How realistic can the plot get? Take final fantasy for example. The title itself turns me off alr. fantasy?? so unrealistic, so not-pratical. watch alr will feel gd meh? I thought 31 must be a lil addled to like to watch cartoons!

BUT GOD FORGIVE ME!! How wrong I was!! 31 pls forgive me for my ignorance!!!! I am willing to kneel down and kow tow to you!!!! Those of you who have nv watched anime before, don't think you are so smart and high and mighty i tell you! u dun watch u dunno how good it is, so don't come judge us anime watchers (strictly speaking I am a bleach- watcher). Tt's right! If you ever judge me cos i watch anime, be prepared for the day GOd punishes you by making you addicted to anime. Then you will come begging for my forgiveness. And you will hold on to my leg tightly and wailing loudly until i give u a good hard kick and ask you to get lost! OKOK I AM JUS KIDDING. I jus wan to be irritating once in a while.


anw... lemme jus upload some pics of bleach!


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In a world where effort cannot be observed

Unlike the hypothetical world in the economics books, the real world is one where asymmetric information causes inefficiencies. What is asymmetric info? Asymmetric information consists of 2 parts: moral hazard and adverse selection. Today we will talk more about adverse selection.

Adverse selection occurs when someone has hidden information, and cause the other party to select 'adversely'. In the very common example of insurance, because high riskers have info tt insurers dont know (eg. high riskers have poor health), the insurers may often end up selecting high risk insurers. This happens because effort cannot be observed. What do I mean?

When effort cannot be observed, inefficiencies result. How? Very simple. We all study so hard for exams, and we are judged based on results, something tt is controlled by many other factors apart from we amount of time we spent studying. On the day of exams, we may feel nervous, have stomachache blah blah, which can affect the outcome, and outcome won't accurately reflect our effort. Ideally, we should be judged based on effort. But, because of asymmetric information, tt cannot happen. Then is it fair tt we are judged based on outcomes? Of cos not! If the school were to judge us based on outcomes, den there must be efficient risk sharing. We, in general, are risk averse. When we bear too much risk, we get panicky n jittery, and we hence cannot perform optimally. The other party needs to share risk with us if they want us to perform well.

What can we conclude? Exams are not an indication of your abilities. We could have performed better without exams. So if u don't do well for exams, blame the school for not sharing risk.