We have that in the UK, and unfortunately it doesn't work very well. Obviously the UK is different to the States in a number of ways, but you might want to watch Shaun's video on the subject: https://youtu.be/nP95Frc0v4k
One solution would be to auction off packages of "slots" on the most profitable, and capacity constrained, routes (eg: east & west coast main lines) rather than franchise them as single monolithic entities.
As for "not working very well", those who remember the days of government-owned-and-operated British Rail will attest that the current system is a significant improvement!
In the UK, you can buy expensive, flexible tickets which are valid on any train and any reasonable route, or you can buy cheaper tickets with various restrictions, typically one or more of:
- Valid only on a particular route/operator
- Valid only on off-peak services
- Valid only on a specific train/time
- Must be purchased a certain period in advance (usually by the previous day)
However, in the event of significant disruption, and trains are running late or cancelled, an announcement is usually made relaxing the cheap ticket restrictions. At the very least, if you have a cheap advance ticket and your train is cancelled or delayed, then you're allowed to use it on the next available service, regardless of operator.
the problem isn't the model as Japan has the best trains in the world and runs on a similar one.
" As of April 2015, 211 companies and entities were registered with MLIT as railway operators in Japan.3 A number of these are involved in multiple activities, combining operations of both railway and other transportation services. "
https://www.eubusinessinjapan.eu/sites/default/files/railway...