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

Author

Listed:
  • Gaunt, Clive

    (Queensland University of Technology)

  • Black, Terry

    (Queensland University of Technology)

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.

Suggested Citation

  • Gaunt, Clive & Black, Terry, 1994. "The Unanticipated Effects of the Industry Commission's Recommendations on the Regulation of the Taxi Cab Industry," Economic Analysis and Policy, Elsevier, vol. 24(2), pages 151-170.
    • Handle: RePEc:eee:ecanpo:v:24:y:1994:i:2:p:151-170
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    More about this item

    Keywords

    Deregulation; Regulation; Taxis;
    All these keywords.

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation

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