Efficient markets demand that supply and demand are in equilibrium. One place that currently isn't the place is waiting in line. I think that waiting in line is still an example of bad markets. There's more demand then supply at the time. But usually it's peak demand that people haven't planned for. Mobile technology can help to alleviate some of this wasted time.
This can be done in two ways. The first is that mobile allows people to be more productive while waiting around. Now because people have smart phones they can check email. Update their status, text or talk to others etc. But more importantly mobile tech will evolve the "check in" into actually reserving a place in line. There's really no reason this can't happen today.
Imagine that you go to get your haircut rather than just sit there you check into your shop before you arrive you see how long before someone can meet with you, you ask to get a text within 10 min of when it's time to get your haircut. Now you can be busy doing other things. What about the store? You see how long lines are before you arrive, you get notified when it's your turn to checkout. Getting your oil changed or other car repair, The dr.'s office, etc .
Mobile tech should be the "end of the line", this should improve everyone's life and create more efficiency in the market.
I'm building a startup called ServiceVines. I live far out from civilization and like it. I get really too excited over tech, economics, and food.