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The Unanticipated Effects of the Industry Commission's Recommendations on the Regulation of the Taxi Cab Industry

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  • Gaunt, Clive
  • Black, Terry

    (Queensland University of Technology
    Queensland University of Technology)

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    Abstract

    The Industry Commission has recommended deregulation of entry restrictions to the Australian Taxicab industry and provided two options for achieving this. This paper considers the economic consequences of the two options and finds that they fail to achieve the Commission's objectives. Their options are arbitrary in their construction and impact, representing a token effort to correct the current regulatory framework's wealth transfer from consumer to license holder. In case the Commission is intent on pursuing a gradual deregulation, this paper analyzes a third option and finds it more efficient in achieving the Commission's objectives. However, total and immediate deregulation of the industry is superior in achieving the consumer and public interest objectives espoused by the Commission.

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    Bibliographic Info

    Article provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).

    Volume (Year): 24 (1994)
    Issue (Month): 2 ()
    Pages: 151-170

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    Handle: RePEc:eap:articl:v:24:y:1994:i:2:p:151-170

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    Keywords: Deregulation; Regulation; Taxis;

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    1. Olson, C Vincent & Trapani, John M, III, 1981. "Who Has Benefited from Regulation of the Airline Industry?," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 75-93, April.
    2. Moore, Thomas Gale, 1978. "The Beneficiaries of Trucking Regulation," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 327-43, October.
    3. Bailey, Elizabeth E, 1986. "Price and Productivity Change Following Deregulation: The U.S. Experience," Economic Journal, Royal Economic Society, vol. 96(381), pages 1-17, March.
    4. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
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