“…They highlight the variability in price in a highly competitive marketplace, inconsistent service quality and the potential for exploitation of individual drivers. There is a body of subsequent research which assesses the value of price and quantity regulation in the taxi industry (Cairns & Liston-Heyes, 1996;Chien & Tsai, 2007;Douglas, 1972;Kim & Wang, 2007;Manski & Wright, 1976;Schaller, 2007;Schroeter, 1983;Seibert, 2006b;Tran & Kleiner, 2005;Wong, Wong, Yang, & Wu, 2008;Yang, Wong, & Wong, 2002). These studies take a variety of approaches to evaluate the impact of regulation, optimal price policies and the optimal allocation of taxicabs to an industry.…”