You can trade anything
The saying goes ‘Australians will bet on two flies crawling up the wall’, so perhaps it is not surprising to see them come up with might be the world’s first exchange traded market in taxi licences.
Like CO2 emissions trading, any transferable standardized legislated contractual right (issued in sufficient numbers) should be tradeable. A transparent market price and price history would give governments fantastic information as to the true supply/demand dynamics in these rights and would allow them to better manage issuance while protecting the interests of taxpayers and existing rights-holders.
