An economic analysis of regulated taxicab markets

被引:37
作者
Flores-Guri, D [1 ]
机构
[1] Skidmore Coll, Dept Econ, Saratoga Springs, NY 12866 USA
关键词
elasticity; medallion; New York City; regulation; taxi; taxicab;
D O I
10.1023/B:REIO.0000031368.93775.0a
中图分类号
F [经济];
学科分类号
02 ;
摘要
The literature on taxicab markets has provided theoretical insights regarding the peculiarities of taxicab markets. A key finding is the positive effect that excess capacity, in the form of vacant taxicabs, has on the demand for taxicab service. Lack of data on taxicab markets has made estimating these models difficult. This paper models a taxicab market in which entry and fares are regulated. It estimates the model using data from meter inspections of New York City taxicabs. It finds a positive, inelastic relationship between vacant taxicabs and demand for taxicab service. The estimates of the parameters of the model are used to evaluate the effects of policy changes such as increases in the regulated fare and in the number of taxicab medallions.
引用
收藏
页码:255 / 266
页数:12
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