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Underground and Overpaid: Equity Theory in Practice

Camerer, Colin F. and MacCrimmon, Kenneth R. (1983) Underground and Overpaid: Equity Theory in Practice. In: Equity Theory: Psychological and Sociological Perspectives. Praeger Press , New York, pp. 295-325. ISBN 9780030621826 http://resolver.caltech.edu/CaltechAUTHORS:20110224-112525335

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Abstract

In March 1982 the fares on the London underground and buses were doubled and became the highest transit fares in the world. The preceding October, the socialist-dominated Greater London Council had cut fares by 25 percent and had increased property taxes to cover the lost revenue. This attempt to shift the costs from the relatively poor (users of public transportation) to the relatively rich (owners of property) failed when Britain's highest court ruled that the tax increase was illegal. To make up lost revenues, the authorities at London Transport doubled transit fares. Are the new fares fair?


Item Type:Book Section
Additional Information:© 1983 Praeger Press.
Record Number:CaltechAUTHORS:20110224-112525335
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20110224-112525335
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:22475
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:08 Mar 2011 21:58
Last Modified:08 Mar 2011 21:58

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