In the News
Customer satisfaction surveys used to combat possible market failure on the trains

29th January 2016
I blogged yesterday about the teenage money-saver who took a flight home via Berlin as it was cheaper than using a train. So, keeping with my theme for the week, here's the next bit of evidence that there is an attempt to keep railway operating market in line despite the lack of competition on routes.
The annual train customer satisfaction survey is now available. It doesn't make good reading for those of you in the South East of England but the headline news appears to show that general levels of satisfaction have increased (up to an average of 76% satisfaction from 73% in 2014). The survey acts as a method of informing customers and potential consumers - it acts as a sort of 'name and shame' activity to hopefully force train operators to perform better whilst informing customers about their likely level of satisfaction which may or may not make them seek an alternative to trains.
For A Level economic students, this is an example of how information can be used to counter the impact of lack of competition within the train industry. The question that they may wish to ask is 'how much impact would a survey of this nature have?'
You might also like

Information Economics - How Many Sugars in a Coke?
5th January 2014

Scotland introduces a minimum charge for plastic bags
21st October 2014

The Cross Rail Project
22nd September 2014

Cost Benefit Analysis - The Crossrail Project
27th April 2014
Information failure in the NHS
23rd January 2014

Information Failure: How sweet are you?
2nd December 2013

The Benefits of Choice: the Battle Never Ends
8th November 2013