Shaun Larcom, Ferdinand Rauch, Tim Willems, 15 September 2015

Suboptimal behaviour has been discussed but has not been studied extensively empirically. This column argues that the February 2014 London Underground strike enabled a sizeable fraction of commuters to find better routes. Due to the strike, many commuters were forced to experiment and around 5% stuck with these new routes after the strike was over. The strike produced an overall net benefit. Commuters seem to ‘satisfice’ and under-experiment during normal times.

CEPR Policy Research