Taxi service with heterogeneous drivers and a competitive medallion market
نویسندگان
چکیده
This paper incorporates two novelties into steady-state, macroscopic models of street-hail taxi service: (i) heterogeneous drivers; (ii) explicit treatment a competitive rental market for medallions (the rights to cruise passengers). When drivers vary only by reservation wage, issuing raises every driver’s take-home pay, and the social optimum requires subsidy. marginal cost, may hurt with low-enough costs. Also, when quality declines require binding medallion quota or tax.
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ژورنال
عنوان ژورنال: Journal of Urban Economics
سال: 2022
ISSN: ['0094-1190', '1095-9068']
DOI: https://doi.org/10.1016/j.jue.2022.103488