A Tale of Two Cities: An Examination of Medallion Prices in New York and Chicago

被引：3

作者：

Bagchi, Sutirtha ^{[1
]}

机构：

[1] Villanova Univ, Dept Econ, 800 E Lancaster Ave, Villanova, PA 19085 USA

来源：

REVIEW OF INDUSTRIAL ORGANIZATION | 2018年 / 53卷 / 02期

关键词：

Lyft; Taxicab medallions; Transportation network company; Uber; COVARIANCE-MATRIX; TAXI;

D O I：

10.1007/s11151-018-9612-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the institution of taxicab medallions in two of the largest cities of the U.S.-New York and Chicago-and changes in the prices of those medallions during the period 2009-2016 (for New York City) and 2007-2016 (for Chicago). We document a drop of roughly 50% in the prices of these medallions in New York and roughly 80% in Chicago from their peak in 2013/2014 to the present. We also find that medallion prices are positively correlated with taxicab revenues (for New York City) and negatively correlated with proxies for the intensity of adoption of Uber and Lyft and interest rates in both cities.

引用

页码：295 / 319

页数：25

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