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01584nam a2200289Ia 4500 |
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10.1007-s11151-018-9612-5 |
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220706s2018 CNT 000 0 und d |
| 020 |
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|a 0889938X (ISSN)
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| 245 |
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|a A Tale of Two Cities: An Examination of Medallion Prices in New York and Chicago
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| 260 |
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|b Springer New York LLC
|c 2018
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| 856 |
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|z View Fulltext in Publisher
|u https://doi.org/10.1007/s11151-018-9612-5
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|a 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. © 2018, Springer Science+Business Media, LLC, part of Springer Nature.
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|a Chicago
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|a Illinois
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|a interest rate
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|a Lyft
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|a New York [New York (STT)]
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| 650 |
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|a New York [United States]
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| 650 |
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|a organization
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|a taxi transport
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|a Taxicab medallions
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|a Transportation network company
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|a Uber
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|a United States
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|a urban transport
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|a Bagchi, S.
|e author
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| 773 |
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|t Review of Industrial Organization
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