Josh Angrist, Sydnee Caldwell, Jonathan Hall, 08 December 2017

Ridesharing services like Uber and Lyft have disrupted taxi markets in many countries around the world. This column examines the differences between rideshare services and taxis from the driver’s point of view. It argues that the crucial difference comes down to the need to lease a medallion to drive a taxi versus the pro rata fee that rideshare services charge. Many high-volume drivers display ‘lease aversion’, opting for the pro rata rideshare service despite the lease model for taxis offering a better return.

William Kerr, Martin Mandorff, 31 October 2015

Immigrants are more likely to concentrate around specific industries and entrepreneurship. Market integration and discrimination only go a certain way towards explaining this phenomenon. This column explores how social interactions affect immigrants’ employment decisions in the US. Fifteen ethnic groups are found to cluster around certain industries at a rate 10 times greater than the native population. Immigrants are argued to be drawn to the same industries as their countrymen due to the ease of diffusing skills through social interactions in the group, along with higher earnings due to specialisation.

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