Tag Archives: Barriers to Entry

Taxi drivers: We’ll make an offer you can’t refuse

Imagine you’re standing on a street corner in New York City, hand raised to hail a cab. Two cabs pull up to vie for your business; a beat-up late 60s sub-compact with no air conditioning, and a brand new mid-size sedan, with working air conditioner and an electronic meter. It’s not hard to pick which [...]

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