LICENCE VALUES IN TAXI MARKETS |
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| Authors: | Benedikt Koehler |
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| Institution: | Recently completed City University's MSc in Economic Regulation and Competition. This article is derived from his thesis 'Regulating Supply in Taxi Markets', which is posted on . |
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| 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. |
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