3 ms·
Pretty much anything that's widely available to the masses suffers from the introduction of a higher price for better experience competitor. It's a matter of di
by OkayPhysicist 3y ago
Pretty much anything that's widely available to the masses suffers from the introduction of a higher price for better experience competitor. It's a matter of distillation; People who can afford the better experience will pay extra for it, leaving only those without other options using the original service.
In the case of greyhounds, the competitor was air travel. Before the rise of discount airlines, flying was prohibitively expensive for a good portion of society. Now, oftentimes the only people who take longhaul busses are people who are either unable, or unwilling, to pay an extra ~50-100 bucks to save themselves several hours.