2023
DOI: 10.1093/qje/qjad023
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Search Frictions and Efficiency in Decentralized Transport Markets

Abstract: We explore efficiency and optimal policy in decentralized transport markets, such as taxis, trucks, and bulk shipping. We show that in these markets, search frictions distort the transportation network and the dynamic allocation of carriers over space. We derive explicit and intuitive conditions for efficiency, and show how they translate into efficient pricing rules, or optimal taxes and subsidies for the planner who cannot set prices directly. The results imply that destination-based pricing is essential to … Show more

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Cited by 8 publications
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References 79 publications
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