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LICENCE VALUES IN TAXI MARKETS

Benedikt Koehler ()

Economic Affairs, 2005, vol. 25, issue 2, 52-54

Abstract: Wherever taxi regulators cap the number of taxis, operating licences acquire economic value. In the UK, the Office of Fair Trading recommended legislative repeal of quantity caps, but the status quo continues. This article argues that licence values send an important signal to taxi regulators.

Date: 2005
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