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LICENCE VALUES IN TAXI MARKETS
Author(s) -
Koehler Benedikt
Publication year - 2005
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2005.00553.x
Subject(s) - repeal , taxis , legislature , status quo , value (mathematics) , business , economics , law , engineering , market economy , transport engineering , political science , computer science , machine learning
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.