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Friday, December 09, 2005

How would you split a taxi fare?

Suppose you had to split a taxi with your friends, with each of you getting off at a different point in the route. How would you split the fare evenly?

By questioning various economists, The Numbers Guy in the WSJ tries to tackle the problem in this article.

The resulting answers vary of course. My favorite one being the simplest and most practical, where all passengers evenly split any leg of the journey that they partake in. (This is the answer the author proposes before talking to any economists.) I mean, who really has the time to engage in Nash bargaining strategies before they flag down a cab?

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