TAXI DEREGULATION AND TRANSACTION COSTS

Christian Seibert

Economic Affairs, 2006, vol. 26, issue 2, 71-73

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.

Date: 2006
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