Who Will Hail Taxis in a Deregulated Market? A Comment

James B. Schuurmans-Stekhoven
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James B. Schuurmans-Stekhoven: Commonwealth Grants Commission, Braddon, Australia

Economic Analysis and Policy, 1996, vol. 26, issue 2, 177-183

Abstract: Based on partial equilibrium analysis (PEA), Gaunt and Black (1994) and (1996) call for the immediate deregulation of the taxi industry. However, market failures-such as imperfect information, policing costs, price discrimination and fraud-may limit the benefits from deregulation and may, on occasions, result in higher taxi fares. This paper questions the merits of using PEA to analyse deregulation of the taxi industry, but does not claim that current regulations are socially optimal.

Keywords: Deregulation; Regulation (search for similar items in EconPapers)
JEL-codes: L51 R48 (search for similar items in EconPapers)
Date: 1996
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