Comments on: It is transaction costs all the way – Part 1 http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/ Mon, 13 Feb 2012 05:41:09 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Atanu Dey on India’s Development » Blog Archive » ICT, Choice and Democracy 2.0 http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-136738 Atanu Dey on India’s Development » Blog Archive » ICT, Choice and Democracy 2.0 Wed, 14 Jan 2009 14:13:54 +0000 http://home.blogstreet.com/2004/07/23/164#comment-136738 [...] though, we have to make some systemic changes. ICT reduces transaction costs. In the past, there was no inexpensive way to ask people to contribute directly to various [...] [...] though, we have to make some systemic changes. ICT reduces transaction costs. In the past, there was no inexpensive way to ask people to contribute directly to various [...]

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]]> By: Samir http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-319 Samir Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-319 I agree completely, however the problem is not just related to large cash purchases but also to small purchases. Example of this is the many times during my visits to India I have wanted to make an impulse purchase of a small item of anywhere from 10 Rs to 80 Rs. And the problem is that there is no possibility of change being given because no one has any change. Therefore instead of buying a bottle of water from the fellow in the street (who needs the sale more than a store owner) I have to go into an established store for the purchase (more wasted time..) or the time I was on the train which stopped at one of the station en-route, I wanted to buy some bannanas a young boy was selling. Again I did not have the "tuta paisa" (small change) to make the transaction. I also asked my relatives about this and they also hold back on such impulse purchases unless they have exact change. One wishes for a service in each market that provides change to people wishing to buy something. This can be thought of as the same service that was provided in Europe (before the Euro) everywhere that took whatever (major)currency one had and exchanged it for the local currency (the buy and sell rate was such that you got slightly less money than indicated by the exchange rate) But everyone was willing to pay the premium because they wanted to buy the goods and needed the "proper" currency. Of course debit and credit cards can solve some problems but for small purchases, having the proper change available is also crucial to helping with quick transactions turnover I agree completely, however the problem is not just related to large cash purchases but also to small purchases.

Example of this is the many times during my visits to India I have wanted to make an impulse purchase of a small item of anywhere from 10 Rs to 80 Rs. And the problem is that there is no possibility of change being given because no one has any change. Therefore instead of buying a bottle of water from the fellow in the street (who needs the sale more than a store owner) I have to go into an established store for the purchase (more wasted time..) or the time I was on the train which stopped at one of the station en-route, I wanted to buy some bannanas a young boy was selling. Again I did not have the “tuta paisa” (small change) to make the transaction.

I also asked my relatives about this and they also hold back on such impulse purchases unless they have exact change.

One wishes for a service in each market that provides change to people wishing to buy something. This can be thought of as the same service that was provided in Europe (before the Euro) everywhere that took whatever (major)currency one had and exchanged it for the local currency (the buy and sell rate was such that you got slightly less money than indicated by the exchange rate) But everyone was willing to pay the premium because they wanted to buy the goods and needed the “proper” currency.

Of course debit and credit cards can solve some problems but for small purchases, having the proper change available is also crucial to helping with quick transactions turnover

]]> By: Aditya http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-320 Aditya Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-320 Your A/C scene reminds me.. In June I was in India, thought of buying a cooler I called up a store, I thought to call 2-3 stores get the price which ever is the best deal I'll go and get that one. To my surprise that person was not even willing to say 'Hello', I was expecting (This is abc from xyz store how can I help you). I asked is someone there to confirm that someone picked up really. Than he refused to tell the price over phone and asked me to come to the store. I don't know what is the problem in even telling the price over phone? Where is the customer service attitude??? Well Atanu you would be exploring how ICT can help the Indian machinery.. but again there is the second world (the poor people of India who do not need all this) for whom this machinery doesn't exist.. can they also be benifited with this??? Your A/C scene reminds me.. In June I was in India, thought of buying a cooler I called up a store, I thought to call 2-3 stores get the price which ever is the best deal I’ll go and get that one. To my surprise that person was not even willing to say ‘Hello’, I was expecting (This is abc from xyz store how can I help you). I asked is someone there to confirm that someone picked up really. Than he refused to tell the price over phone and asked me to come to the store. I don’t know what is the problem in even telling the price over phone? Where is the customer service attitude???

Well Atanu you would be exploring how ICT can help the Indian machinery.. but again there is the second world (the poor people of India who do not need all this) for whom this machinery doesn’t exist.. can they also be benifited with this???

]]> By: Elango http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-321 Elango Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-321 Hello Atanu, Very interested to know about the status of RISC pilot implemenation... Elango. Hello Atanu,

Very interested to know about the status of RISC pilot implemenation…

Elango.

]]> By: Elango http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-322 Elango Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-322 The reason they refuse to give price over the phone is rational. <b> The pricing decision is done realtime</b> based on what he thinks that you can pay. Also, he wants to make it harderfor you to shop around. I wonder ...if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented? The reason they refuse to give price over the phone is rational. The pricing decision is done realtime based on what he thinks that you can pay. Also, he wants to make it harderfor you to shop around. I wonder …if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented?

]]> By: Elango http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-323 Elango Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-323 The reason they refuse to give price over the phone is rational. <b> The pricing decision is done realtime</b> based on what he thinks that you can pay. Also, he wants to make it harder for you to shop around. I wonder ...if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented? The reason they refuse to give price over the phone is rational. The pricing decision is done realtime based on what he thinks that you can pay. Also, he wants to make it harder for you to shop around. I wonder …if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented?

]]> By: Elango http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-324 Elango Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-324 The reason they refuse to give price over the phone is rational. <b> The pricing decision is done realtime</b> based on what he thinks that you can pay. Also, he wants to make it harder for you to shop around. I wonder ...if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented? The reason they refuse to give price over the phone is rational. The pricing decision is done realtime based on what he thinks that you can pay. Also, he wants to make it harder for you to shop around. I wonder …if NRIs who are used to western way of doing things find it diffcult to deal with these samll shop owners, how come a complicated project such as RISC can ever be implmented?

]]> By: Elango http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-325 Elango Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-325 Sorry for the multiple posts. I got too impatient with the very slow response from the server. Sorry for the multiple posts. I got too impatient with the very slow response from the server.

]]> By: Aditya http://www.deeshaa.org/2004/07/23/it-is-transaction-costs-all-the-way-part-1/comment-page-1/#comment-326 Aditya Unknown, 30 Nov -0001 00:00:00 +0000 http://home.blogstreet.com/2004/07/23/164#comment-326 Elango I don't know about the complicated project RISC, but let me tell you one thing about those NRI's who have lived their initial 20 - 25 years of life in India, because being used to western way of doing things it is not difficult to deal but it feels like little bit inconvinent way. And secondly you are not an Indian probably thats why you said all that, because you don't know when we really get down to work we are the best in world. Elango I don’t know about the complicated project RISC, but let me tell you one thing about those NRI’s who have lived their initial 20 – 25 years of life in India, because being used to western way of doing things it is not difficult to deal but it feels like little bit inconvinent way. And secondly you are not an Indian probably thats why you said all that, because you don’t know when we really get down to work we are the best in world.

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