Transfer Pricing "Illinibucks"

The notion of “illinibucks” in theory sounds like an interesting concept but in actually would be difficult to implement in my opinion. Our current process utilizes a system in which we prioritize by a first come first serve basis, by seniority, or different colleges of study. I believe that our current system is fair because we place emphasis on taking the initiative such as waiting in line. The implementation of illinibucks would seem to promote greater utility but would be hard to carry out because I believe that there would be many conflicting attitudes towards this type of system. For example, one problem illinibucks would create would be to make it unfair towards people that are very active and involved. These are people that register for their classes at their earliest convenience or arrive ahead of time in order to wait in a line. These people would be at a disadvantage because they would have the same priority as someone that would normally not take the initiative to do these things.

Furthermore, illinibucks would make it incredibly difficult for upperclassmen to for major specific people to select the classes that they need to take. Under our current system, we place priority for people that need to take these classes. If everybody had illinibucks, anybody would be able to have an early selection for a class that they hypothetically would not need. The benefits to illinibucks would be create more efficiency when it comes to consumer decisions. Consumers would be smarter about dedicating their resources by using illinibucks. They would have to consider what specific things they value such as waiting for a class or waiting in line for a football ticket. Lines would invariably be smaller or more well-organized because consumers would not spend unnecessary illinibucks for things that they don’t need.

If I were given the opportunity to use illinibucks I would utilize my illinibucks primarily for important things such as school. I would make sure to allocate my illinibucks to selecting classes or meeting with my academic advisors first before I would use them for extracurricular such as buying tickets to sporting events. I could see potentially problems arising from the process of allocating illinibucks. Would students be given the same amount of illinibucks per semester? Could students buy more illinibucks if they needed them? Problems could arise because people could see some injustices from people being able to afford to buy more illinibucks. How would the school deal with students that don’t have the money to buy additional illinibucks? Would they get less priority for important things such as selecting classes? The transfer pricing of illinibucks would create many issues depending on if the administered price was either too low or too high. As mentioned before, if the administered price was too high then students that are unable to buy these illinibucks would be at a disadvantage. If prices were administered too low, then consumers could see problems arising from too many people having priority over others. These would create longer lines and consumers would see the illinibucks as being useless because people would be able to afford more of them.