Most of the authors agree with the above, a liberalization of the market will increase the taxi fleet and level of
service to the customers, but a fare regulation is needed. As exposed by Fernandez et al. (2010), a fare regulation is
enough for controlling the taxi market as concluded in the USA example. The example of deregulation in the United
States confirmed the exposed by Schaller (2007); taxi drivers will create over-supply in airports due to the lower
waiting time and higher income if there are no regulations. It is important to highlight that the effects of deregulation
will depend on the initial pre-deregulation situation. In markets where regulation kept supply close to free entry
equilibrium levels and low license values there will be no changes, but in markets where the number of taxis is very
low due to the strict applied regulation, supply will increase importantly after deregulation, as occurred in the
examples listed above. This entry of new supply will lead to low incomes, high fares and business failure (short
terms results), while the adaptation of consumers will be in a long term horizon