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February 28, 2026Journal of transport economics and policy0 citations

Price Regulation and Optimal Service Standards: The Taxicab Industry

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GDG.W. Douglas

Key Points

  • The central aim is to explore how price regulation can enhance service efficiency in the taxicab market.
  • Analysis of price competition in the cruising taxi market
  • Examination of service differentiation based on customer willingness to pay
  • Theoretical framework for setting efficient prices
  • Demonstrates the impracticality of price competition in cruising taxis
  • Finds that service cannot be effectively differentiated by willingness to pay
  • Suggests optimal pricing strategies to maximize service use

Abstract

In a market of cruising taxis price competition is impracticable, and service (measured by waiting time) cannot be differentiated by customers\’ willingness to pay. This article examines the principles governing the setting of efficient prices to attain the maximum use of the service.

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Cite This Study

G.W. Douglas (1972) studied this question.

synapsesocial.com/papers/69a286a70a974eb0d3c01b57https://doi.org/10.3828/jtep.1972.6.2.116
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