Without Quest for Knowledge, Life Would Be a Mistake
Sunday, February 15, 2009
Why "queuing" exists?
This is an old but hard question. Why we still use "queuing" to allocate scarce resources almost everywhere in the world? Why don't we substitute this with many other possible mechanisms, such as auctioning, lots-drawing , seniority or even duel? More interestingly, under what circumstances can we supplant queuing by other possible means, under what other circumstances can we not?