search query: @author Liston-Heyes, C. / total: 9
reference: 9 / 9
« previous | next »
| Author: | Cairns, R. Liston-Heyes, C. |
| Title: | Competition and regulation in the taxi industry |
| Journal: | Journal of Public Economics
1996 : JAN, VOL. 59:1, p. 1-15 |
| Index terms: | REGULATIONS TRANSPORT COMPETITION |
| Language: | eng |
| Abstract: | A simple model of the taxi industry suggests that deregulation of fares and entry may not be optimal. The conditions of competition do not hold in the industry, even approximately. A model of search, where drivers and riders search for each other, is presented for the cruising-taxi market. This indicates that equilibrium of a deregulated industry does not exist. Price regulation is essential, and entry regulation may be useful. In addition, viewing the medallion as a bond for appropriate performance provides another possible rationale for regulation. |
« previous | next »
SCIMA