Frankly speaking, I sometimes think the old way (sky-high COE,
low ERP) is the way to go.
The problem is that consumers tend to think in immediate sunk
costs instead of long-term marginal costs. That is to say that a
$20000 COE with a $2/entry ERP is much worse to them than $15000
COE with a $4/entry ERP.
Never mind if the ERP charges add up to a lot more in the long
term - people consider a short-term haemorrhage to be worse than a
long-term laceration.
i'd rather the low COE and high ERP.. because i use the car
during non-peak periods...
anyhoooo.. if the insane COE remains, i'll just scrap the car
when the COE expires and buy lots of koyok, take the MRT to and
from work
