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Taxi Deregulation And Transaction Costs

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  • Christian Seibert

Abstract

Deregulation of taxi markets has the potential to deliver significant benefits. However, it presents the problem of transaction costs and in particular problems linked with imperfect information and co‐ordination. This article argues that the use of a centralised intermediary in deregulated taxi markets can overcome these problems so that the benefits of competition are maximised, without the need for government fare regulation.

Suggested Citation

  • Christian Seibert, 2006. "Taxi Deregulation And Transaction Costs," Economic Affairs, Wiley Blackwell, vol. 26(2), pages 71-73, June.
    • Handle: RePEc:bla:ecaffa:v:26:y:2006:i:2:p:71-73
    DOI: 10.1111/j.1468-0270.2006.00634.x
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    References listed on IDEAS

    as
    1. Gallick, Edward C & Sisk, David E, 1987. "A Reconsideration of Taxi Regulation," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 3(1), pages 117-128, Spring.
    2. Benedikt Koehler, 2005. "Licence Values In Taxi Markets," Economic Affairs, Wiley Blackwell, vol. 25(2), pages 52-54, June.
    3. 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.
    4. Sean D. Barrett, 2003. "Regulatory Capture, Property Rights And Taxi Deregulation: A Case Study," Economic Affairs, Wiley Blackwell, vol. 23(4), pages 34-40, December.
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    Cited by:

    1. Cetin, Tamer & Deakin, Elizabeth, 2019. "Regulation of taxis and the rise of ridesharing," Transport Policy, Elsevier, vol. 76(C), pages 149-158.
    2. 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.
    3. Çetin, Tamer & Yasin Eryigit, Kadir, 2011. "Estimating the effects of entry regulation in the Istanbul taxicab market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(6), pages 476-484, July.

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