Yes, I understand that. But my point was that in many cities you need neither a hackney license (i.e. a medallion) nor a livery license, whereas in New York you

Yes, I understand that. But my point was that in many cities you need neither a hackney license (i.e. a medallion) nor a livery license, whereas in New York you need a livery license. Livery licenses are much cheaper to acquire than a medallion, but they still raise the barrier to entry more than in other major cities, so I suspect that would be relevant for pricing.