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A diagrammatic analysis of the market for cruising taxis

Author

Listed:
  • Fernández L., J. Enrique
  • De Cea Ch, Joaquín
  • Briones M., Julio

Abstract

A diagrammatic approach is used to study the characteristics of the cruising taxi market. For cost modeling, both taxi operator and passenger are taken as service producers. The former provides his vehicle operation and the latter, his waiting and travel time. Market demand is defined as a function of generalized price. It is shown that under short and long run conditions a unique equilibrium exists for a deregulated industry and it corresponds to a monopolistic competition. The relations among the free market equilibrium, social optimum and second best solution are analyzed. Regulations are studied in order to find their social convenience.

Suggested Citation

  • Fernández L., J. Enrique & De Cea Ch, Joaquín & Briones M., Julio, 2006. "A diagrammatic analysis of the market for cruising taxis," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 42(6), pages 498-526, November.
    • Handle: RePEc:eee:transe:v:42:y:2006:i:6:p:498-526
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    Cited by:

    1. Thorsten Heilker & Gernot Sieg, 2017. "A duopoly of transportation network companies and traditional radio-taxi dispatch service agencies," Working Papers 24, Institute of Transport Economics, University of Muenster.
    2. Maarten C.W. Janssen & Alexei Parakhonyak, 2008. "Selection Effects in Regulated Markets," Vienna Economics Papers 0810, University of Vienna, Department of Economics.

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