Determining market areas captured by competitive facilities: a continuous equilibrium modeling approach

Article Abstract:

The equilibrium choice behavior of customers for a given set of competitive facilities over a heterogeneous two-dimensional geographical space is analyzed using a continuum optimization model. The model is devised as a calculus of variations problem and its optimality conditions are observed to be similar to the spatial customer-choice equilibrium conditions. To illustrate the proposed deterministic equilibrium model and the finite-element method based algorithm, a useful numerical technique is presented.

Research, Models, Consumer behavior, Industrial locations, Industrial location, Equilibrium (Economics)

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Bayesian smoothing of rates in small geographic areas

Article Abstract:

A Bayesian model has been developed to obtain accurate geographic distribution of socio-economic and public health data rates. The model, which relies on a statistical method of smoothing raw rates, accounts for heterogeneity and heteroskedasticity by using a restricted maximum likelihood estimators. Its reliability has been demonstrated in the analysis of a data set on undercoverage in the 1980 US Census.

Methods, Usage, Bayesian statistical decision theory, Bayesian analysis, Census, Censuses

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The Economic Law of Market Areas: a further discussion

Article Abstract:

The Economic Law of Market Areas assumes that the market-area boundary between two competing producers consists of a line along which the variation in the unit transportation costs from the two centers offsets the price difference at these centers. However, more thorough analyses indicate that this concept is only accurate when used on a case-to-case basis.

Competition (Economics), Free enterprise

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