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Estimating the effects of entry regulation in the Istanbul taxicab market

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  • Çetin, Tamer
  • Yasin Eryigit, Kadir

Abstract

The economic literature shows that entry regulation in taxicab markets brings about a dramatic increase in medallion prices or license values of taxicabs. However, there is no study estimating what the effect of regulation is exactly on real medallion prices. We develop a model to estimate the effect of entry restrictions in the Istanbul taxicab market over real medallion prices and inflation. Our findings contribute that entry regulation in taxicab markets increases medallion prices. Moreover, we find that entry regulation in Istanbul pressures inflation rates as well.

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Bibliographic Info

Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

Volume (Year): 45 (2011)
Issue (Month): 6 (July)
Pages: 476-484

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Handle: RePEc:eee:transa:v:45:y:2011:i:6:p:476-484

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Related research

Keywords: Economic regulation Taxicab markets Cointegration Structural breaks;

References

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Cited by:
  1. Çetin, Tamer & Yasin Eryigit, Kadir, 2013. "The economic effects of government regulation: Evidence from the New York taxicab market," Transport Policy, Elsevier, vol. 25(C), pages 169-177.

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