Dependent variables
Revenue per mile. Revenue is measured as metered fares, excluding the 50
cent per trip evening surcharge that is not captured in the taximeter data.
Revenue is divided by miles driven to control for changes in work effort.
Revenue per mile is adjusted downward by 20 percent after the 1996 fare
increase to produce the variable used in the equation (ADJ. REVM). This
variable measures met demand—essentially the number of trips provided—as
well as revenue.