An Economic Analysis of Regulated Taxicab Markets

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An Economic Analysis of Regulated Taxicab Markets

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Daniel Flores-Guri ()

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Daniel Flores-Guri

Abstract

The literature on taxicab markets has provided theoretical insights regardingthe peculiarities of taxicab markets. A key finding is the positive effect thatexcess capacity, in the form of vacant taxicabs, has on the demand for taxicabservice. Lack of data on taxicab markets has made estimating these modelsdifficult. This paper models a taxicab market in which entry and fares areregulated. It estimates the model using data from meter inspections of NewYork City taxicabs. It finds a positive, inelastic relationship between vacanttaxicabs and demand for taxicab service. The estimates of the parameters ofthe model are used to evaluate the effects of policy changes such as increasesin the regulated fare and in the number of taxicab medallions. Copyright Kluwer Academic Publishers 2003

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Article provided by Springer in its journal Review of Industrial Organization.

Volume (Year): 23 (2003)
Issue (Month): 3 (December)
Pages: 255-266
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Handle: RePEc:kap:revind:v:23:y:2003:i:3:p:255-266

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Article
- Daniel Flores-Guri, 2003. "An Economic Analysis of Regulated Taxicab Markets," Review of Industrial Organization, Springer, vol. 23(3_4), pages 255-266, December. [Downloadable!]

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Cairns, Robert D. & Liston-Heyes, Catherine, 1996. "Competition and regulation in the taxi industry," Journal of Public Economics, Elsevier, vol. 59(1), pages 1-15, January. [Downloadable!] (restricted)
De Vany, Arthur S, 1975. "Capacity Utilization under Alternative Regulatory Restraints: An Analysis of Taxi Markets," Journal of Political Economy, University of Chicago Press, vol. 83(1), pages 83-94, February. [Downloadable!] (restricted)
Arnott, Richard, 1996. "Taxi Travel Should Be Subsidized," Journal of Urban Economics, Elsevier, vol. 40(3), pages 316-333, November. [Downloadable!] (restricted)
John R. Schroeter, 1983. "A Model of Taxi Service under Fare Structure and Fleet Size Regulation," Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 81-96, Spring.
Other versions:
- Schroeter, John R., 2003. "A Model of Taxi Service Under Fare Structure and Fleet Size Regulation," Staff General Research Papers 11120, Iowa State University, Department of Economics.

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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Christopher Snyder, 2003. "Introduction to the 2003 International Industrial Organization Conference Special Issue," Review of Industrial Organization, Springer, vol. 23(3), pages 175-177, December. [Downloadable!] (restricted)

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