Thursday, November 1, 2012

How much is a good service worth?

Good morning economists. I want to share with you something that happened to me yesterday. In the morning I used my blackberry messenger service to send two very important text messages. It seems that there was a momentary lapse (or problem) in the internet service and the messages were sent but were not delivered to their recipient. The failure in the delivery, caused me a great deal of distress for the rest of the day as it was the source of a huge misunderstanding.

Later in the afternoon, I called customer service (of my mobile phone service provider) to pay my account balance. As I was reading my credit card number, I wondered how much I should have been compensated for the distress their service, or to be accurate the failure of their service, caused me. I do not think that the company would really pay much attention to a momentary lapse of service, but for me at least, it was a big deal.
 Think about it. You are getting ready to watch the big game (or show) on TV and suddenly the cable service goes out. How much is this inconvenience worth to you, and should it be deducted from your bill? Afterall, the price you are paying is based on the assumption that the service provided should be flawless.

Have a great service day!


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