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

Clive Gaunt and Terry Black
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Clive Gaunt: Queensland University of Technology
Terry Black: Queensland University of Technology

Economic Analysis and Policy, 1994, vol. 24, issue 2, 151-170

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.

Keywords: Deregulation; Regulation; Taxis (search for similar items in EconPapers)
JEL-codes: K23 L92 (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:24:y:1994:i:2:p:151-170

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