Rideshare Companies Uber and Lyft Strongly Affect Taxi and Rental Car Industries
The rideshare industry has boomed in recent years, and companies such as Uber and Lyft have disrupted both taxicab businesses and rental car companies. This study analyzes the effect of Uber and Lyft on the taxi industry and the rental car industry. The independent variables are Uber and Lyft rides per day in New York City. The dependent variables are NYC taxicab medallion prices, Hertz stock prices, and Avis stock prices. The conclusions in this study are that Uber and Lyft have caused the decrease in the value of NYC taxicab medallions, the decrease in the value of Hertz stock, and the decrease in the value of Avis stock.
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