This week's IGM European Economic Experts Panel statements:
A) Consumers will be better off, on balance, if European cities treat firms that provide ride-sharing platforms (such as Uber) as substantively different from taxi firms, and thus not necessarily warranting the same regulation.
B) Assuming that taxi and ride-sharing companies were treated as substantively similar — including requirements that they operate on an equal footing regarding safety, insurance and taxation — letting ride-sharing services compete without restrictions on prices or routes would raise consumer welfare.
C) Regardless of how ride-sharing services are treated, existing regulations for traditional taxi firms in many European cities harm consumers by limiting competition.
Keyword: Uber
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This week's IGM Economic Experts Panel Statements:
A) The US should increase spending now on roads, railways, bridges and airports (including new projects, maintenance or both).
B) The advisability of increasing federal spending on roads, railways, bridges and airports is independent of whether the US also enacts tax cuts that substantially lower revenues.
This week’s IGM Economic Experts Panel statement:
Letting car services such as Uber or Lyft compete with taxi firms on equal footing regarding genuine safety and insurance requirements, but without restrictions on prices or routes, raises consumer welfare.
This week’s IGM Economic Experts Panel statement:
Using surge pricing to allocate transportation services — such as Uber does with its cars — raises consumer welfare through various potential channels, such as increasing the supply of those services, allocating them to people who desire them the most, and reducing search and queuing costs.
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