Price is No Obstacle
From... Self-driving cars, opportunity costs and idle gold You'll have to register to read it. "We argued...that the economics of self-driving taxis don’t necessarily make sense.Which is to say, we’re not entirely convinced (at this stage) that self-driving taxis will be any more or less affordable than those driven by humans. " That is irrelevant. The economic value of self-driving cars is that people who are currently driving taxis will do something else productive that can't be automated right now... Likely something that is either not being done now or is under-served based on the desire of the public. We should hope that self-driving taxis WILL (without general inflation or legal mandates) become increasingly expensive because that means that the value (productivity) of those hired trips is increasing. People freely pay for things only if they think the money they have is less valuable than the thing they want. I think the misconception is this: The writ...