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> Er, okay. There are other products and services with heavy competition that aren't a terrible experience. Please, elaborate, and be specific about the regula

> Er, okay. There are other products and services with heavy competition that aren't a terrible experience. Please, elaborate, and be specific about the regulation present in the sale of those products and services.

tyingq 10y ago
Are you asking for highly regulated products and services that aren't terrible? If so, automobile manufacturing is highly regulated, as is banking. Plenty of competition exists. In both, I have a very granular range of choices at different price points, and have no trouble finding ones I am happy with. Airlines generally have two tiers of service, and business/first does nothing for large parts of what makes the experience terrible. Or are you asking about less regulated industries, like hotels or restaurants? Or maybe things that are completely unregulated?
- antisthenes 10y ago
  In this case, the service being offered by the airline is the booking itself. Your manufacturing analogy isn't appropriate, since they have to meet a minimum standard of safety for the product being sold. It is regulated heavily, because it deals with the potential loss of human life. What's more reliable - a flight that departs on time every time or the aircraft that performs the flight? (In case it isn't obvious, it's a rhetorical question) > as is banking Sure, if we're talking about the safety of putting your money in a CD, which offer no consumer utility whatsoever. It's actually not a service for the consumer, since the bank is the one that makes money on the deposit. A better analogy would have been different credit cards, which is quite a predatory service that, in theory, is possible to benefit from by the consumer, but in practice has little consumer protection if the "incentives" of the cards expire. What I was asking for, and sorry if the intent wasn't clear, were products and services without consumer protection that offer surplus utility to the consumer beyond the service itself, that aren't terrible. If you have a rudimentary knowledge of economics, you'll know it's a trick question, though.
  - tyingq 10y ago
    I feel like some goalposts just moved. Cars can be safe, but still crappy. Only part of their function is regulated. Similar for banks. My bank provides great online functionality, friendly service, and more they aren't obligated to do.

tyingq 10y ago

Are you asking for highly regulated products and services that aren't terrible? If so, automobile manufacturing is highly regulated, as is banking. Plenty of competition exists. In both, I have a very granular range of choices at different price points, and have no trouble finding ones I am happy with. Airlines generally have two tiers of service, and business/first does nothing for large parts of what makes the experience terrible. Or are you asking about less regulated industries, like hotels or restaurants? Or maybe things that are completely unregulated?

antisthenes 10y ago
In this case, the service being offered by the airline is the booking itself. Your manufacturing analogy isn't appropriate, since they have to meet a minimum standard of safety for the product being sold. It is regulated heavily, because it deals with the potential loss of human life. What's more reliable - a flight that departs on time every time or the aircraft that performs the flight? (In case it isn't obvious, it's a rhetorical question) > as is banking Sure, if we're talking about the safety of putting your money in a CD, which offer no consumer utility whatsoever. It's actually not a service for the consumer, since the bank is the one that makes money on the deposit. A better analogy would have been different credit cards, which is quite a predatory service that, in theory, is possible to benefit from by the consumer, but in practice has little consumer protection if the "incentives" of the cards expire. What I was asking for, and sorry if the intent wasn't clear, were products and services without consumer protection that offer surplus utility to the consumer beyond the service itself, that aren't terrible. If you have a rudimentary knowledge of economics, you'll know it's a trick question, though.
- tyingq 10y ago
  I feel like some goalposts just moved. Cars can be safe, but still crappy. Only part of their function is regulated. Similar for banks. My bank provides great online functionality, friendly service, and more they aren't obligated to do.