Who will hail taxis in a deregulated market? A comment on Gaunt and Black

Research output: Contribution to journalArticle

Abstract

Based on partial equilibrium analysis (PEA), Gaunt and Black (1994) and (1996)call for the immediate deregulation of the taxi industry. However, market failures-such as imperfect information. policing costs. price discrirnination and fraud-may limit the benefits from deregulation and may. on occasions, result in higher taxi fares. This paper questions the merits of using PEA to analyse deregulation of the taxi industry, but does not claim that current regulations are socially optimal.
Original languageEnglish
Pages (from-to)177-183
Number of pages7
JournalEconomic Analysis and Policy
Volume26
Issue number2
Publication statusPublished - 1996

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