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ABSTRACT. This paper examines the effect of retail firm ownership on price equilibrium using a simple linear-city model. It is shown that price divergence emerges due to the differences in retail firm ownership, because retail firms under different ownership internalize shopping externalities differently. It is also shown that if a commercial center has two specialized retail firms, these stores charge the same markup for different goods at the equilibrium.  相似文献   

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ABSTRACT This paper exploits the two-stage approach and the envelope theorem to examine the role of the Moses-Predhol pull in the cost-minimizing location theory of the firm. It shows that the two-stage approach introduces the Moses-Predohl pull into the first-order conditions. The Moses-Predohl pull is shown to be equal to zero through the envelope theorem. These results show why the assertions of Bossert and Buhl (1986) concerning Kusumoto (1984,1985) are incorrect.  相似文献   

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This paper attempts to incorporate space in the theory of a regulated firm. It will show that the A-J effects are not affected in a spatial setting. In addition, it will also demonstrate that as the difference between the regulated fair rate of return and the unconstrained profit-maximizing rate of return on capital becomes greater, the optimum location of the regulated firm moves towards the site of the product market, if capital and labor are complements (substitutes) and if marginal transportation costs (with respect to distance) are an increasing (decreasing) function of labor usage.  相似文献   

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ABSTRACT This paper investigates the implication of production-technology uncertainty for the exclusion theorem. The paper presents the result that the risk-averse firm facing production technology uncertainty prefers an intermediate location to avoid risk under certain conditions. The firm chooses an intermediate location (over a corner location) particularly if its degree of risk aversion overwhelms the inherent convexity of profit with respect to location. The latter depends, in turn, on the structure of production technology characterized by the elasticity of substitution and returns to scale parameters.  相似文献   

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This paper examines the theoretical implications of quantity-discounted transportation rates on the optimum location decision of the firm. It shows that the linearly homogeneous or homothetic production function is not a sufficient condition for the independence between the optimum location and the output level, unless (i) the elasticities of transportation rates with respect to quantity shipped are constant and identical, and (ii) the ratios of marginal products 60 the marginal transportation costs are equal for each input.  相似文献   

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ABSTRACT This paper examines the role of the structure of transportation rates in the Weber-Moses triangle model. It shows that, in Zeigler's analysis, the appearance of the price elasticities of demand for inputs actually vanish by a simple application of the envelope theorem. Applying comparative statics analysis, we show when transportation rates are a function of quantity and distance, the assumptions that the production function is homogeneous of degree one and the transportation rates elasticities with respect to quantity and distance are constant are not sufficient to insure that the optimum location is independent of the level of output. This result is significantly different from that obtained by either Miller and Jensen or Zeigler.  相似文献   

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ABSTRACT. This paper discusses the problem of the optimal location of public facility(ies) in a long narrow city, especially taking into consideration the externality-internalizing effect of the land market. It shows a systematic approach to dealing with the land market mechanism in first a one-facility and then a two-facility case. The analysis assures the importance of posing the location-optimizing problem even under the influence of the land market.  相似文献   

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ABSTRACT. In this study we use a translog profit function and iterate seemingly unrelated regressions to estimate a system of factor demand and output supply functions for metropolitan economies. Our sample includes all metropolitan areas defined by the Census in 1977 for the period 1962 to 1982. Estimation shows that all price elasticities are elastic and that the signs are as expected. These results hold true for virtually all model specifications. Our findings indicate that federal, state, and local tax policies have significant impacts on factor demand and output supply. Public investment plays a positive and significant, but small, role in increasing output and in complementing other factors, although this influence has declined over time. Additionally, capital provided by the private sector has a substantially larger impact on output and employment than does capital provided by the public sector.  相似文献   

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In special cases of the Leontief technology's constant input-output coefficients, the general localization theorem that an interior location is a global optimum if every input or market vertex is not a local optimum [Kusumoto (1984)] is confirmed and strengthened. Sufficient conditions are proposed for the portion of a triangular space in which the firm will locate. Finally, it is shown that, if input substitution is permitted and its effects dominate spatial effects, the firm's total cost function will be monotone, as well as concave, hence the vertex is a global optimum if it is a local optimum.  相似文献   

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ABSTRACT. This paper examines the possibility of sustaining a collusive equilibrium in a standard location model. Drawing on recent developments in game theory, it is suggested that collusion is only feasible if market areas lie within a certain range. When market areas are large the threat of entry is likely to undermine any collusive agreement. In contrast when market areas are small, defection from the cartel is shown to be profitable. Thus collusion is shown to be feasible only when market areas and demand lie within certain bounds. More generally, this result appears to be consistent with the somewhat ambiguous empirical evidence which suggests that competitive pricing behavior is likely to prevail in periods of excessively high demand and during recessions.  相似文献   

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