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This paper is based on my unpublished doctoral dissertation [4]. I am indebted to Armen A. Alchian, George W. Hilton, and Roland N. McKean for their continuous encouragement and criticism. Among others who made helpful comments are Arthur S. De Vany, Michael E. Levine, Jora R. Minasian, John H. Niedercorn, Jeffrey B. Nugent, Donald J. O'Hara, Michael M. Stoddard, Phillip E. Vincent, and an anonymous referee, but all are innocent of any remaining errors. An earlier version was presented at the August 1970 meetings of the Western Economic Association at Davis, California. Thanks for financial assistance go to the Lilly Endowment as part of a grant made to U.C.L.A. for the study of property rights, and to the University of Southern California Research Fund.
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Eckert, R.D. On the incentives of regulators: The case of taxicabs. Public Choice 14, 83–99 (1973). https://doi.org/10.1007/BF01718443
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DOI: https://doi.org/10.1007/BF01718443