Social and Behavioral Sciences Commons^™

The Uber Effect, Richard William Kelly

2016 Undergraduate Awards

Taxi industries across the world have been affected by a new trend in transportation; ridesharing services. It is suggested that this effect has been demonstrated through falling taxi medallion prices. This recent decline in taxi medallion prices has been coined the term “The Uber Effect”. This paper analyzes the effect that Uber has had on the taxi industry’s medallion prices since UberX has entered three different markets: New York City, Chicago and Philadelphia. The price of a taxi medallion is modeled against a variable of interest: number of Uber drivers in a city, and control variables: unemployment rate, long term …