Uber/Lyft are disrupting the near-total regulatory capture of the taxi industry. But why does that regulatory mess exist in the first place? As it turns out, the regulations are trying to solve a bunch of specific market failures in the legacy taxi industry, and this paper thoroughly explains what those failures are.
(from the March 2018 Gwern.net newsletter)
Uber/Lyft are disrupting the near-total regulatory capture of the taxi industry. But why does that regulatory mess exist in the first place? As it turns out, the regulations are trying to solve a bunch of specific market failures in the legacy taxi industry, and this paper thoroughly explains what those failures are.