[x5n1]

Well the problem is self correcting. People will stop giving quality bids if they don't think that there is any profit to be made because a bunch of volunteers have destroyed the market. There is no problem here. Only that anyone bidding should be aware that they won't get properly compensated for their work and time.

[giaour]

Too bad we're all supposed to benefit from what this market produces.

Having worked in a government agency before, I guess I wouldn't be surprised to hear that a needed project would be delayed indefinitely while we waited for market dynamics to correct themselves.

[iaw]

Yep. Fully agreed. I think it sucks for the other participants because it wasn't the "intent" of the market. At the end of the day the market is going to yield a solution, intent doesn't matter.

[zardo]

How is the market being destroyed correcting the problem? If people can't be compensated and work doesn't get done, the market is a failure.

[iaw]

The market isn't destroyed, it's just driven to zero. You can't force market participants to behave in the fashion you want. The market being driven to zero is one solution for the market, it optimizes for the people selling services and the people buying them, it just doesn't optimize for the profitability of those trying to make money off of selling their services.