Apparently, this would ensure price competition between taxis, which is most likely true. But there is a downside: it would make the task of policing the taxi network that much more difficult. Authorities now can easily detect rogue taxi operators because they need to advertise their services in order to attract customers. But with the new system, it will make it almost impossible to detect rogue taxi operators because the customers cannot tell who belongs to which companies.
In my mind, this is a system which will be implemented soon, and I believe it is a good idea. I'm sure customers will be able to tell which prices seem outrageously low enough to raise an eyebrow, and so they'll be able to police themselves.
http://news.nationalpost.com/2011/05/25/urban-scrawl-a-smart-solution-to-torontos-taxi-woes/
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