What’s the Right Number of Taxis (or Uber or Lyft Cars) in a City?

When Uber and Lyft first entered the market, offering a ride-hailing service that would come to include tens of thousands of amateur drivers, most major American cities had been tightly controlling the competition. New York City allowed exactly 13,637 licenses for taxicabs. Chicago permitted 6,904, Boston 1,825 and Philadelphia 1,600. These numbers weren’t entirely arbitrary.…

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