The Introduction Of Taxi Regulation In The Lake Of The Ozarks (Osage Beach)
To see how far taxi regulations can go, Osage Beach need look no further than Kansas City and Saint Louis. Missouri’s largest metropolitan areas have extensive regulations for their for-hire vehicle markets, through the St. Louis Metropolitan Taxi Commission (MTC) and the Kansas City Regulated Industries Division. Common to most large American cities, consumer protection is the primary justification for these regulations. Proponents of regulation have argued in the past that the taxi market has information asymmetries that favor the driver over the rider. Drivers know their way around the city, while riders might not. Drivers also can attempt to rip off riders by rigging meters and by tacking on expenses that the riders might not know about. Significantly, riders often do not know the reputation of the driver, nor can they relay their information on the driver to future potential customers.
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