摘要:

ABSTRACT.In the presence of agglomeration and congestion externalities the sequence of location choices made by firms results in an inefficient distribution of economic activity, since individual firms do not bear the congestion costs they impose on other firms. In this paper, we model the interaction of public authority service strategies and firm location choices. We show that a self‐interested regional authority can effect a welfare‐improving distribution of economic activity when compared with an economy without an authority or an economy with local authorities. However, we also show that the conditions under which the authority would induce a welfare enhancing distribution depends on the authority's strategic posture, as well as the nature and size of public subsidies for the authority. The conditions necessary for a regional authority to choose an efficiency enhancing strategy may be difficult to achi

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00227.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACT.I analyze oligopolistic competition among three or more firms located on Hotelling's (1929) Main Street and show that in contrast with Hotelling's duopoly, the symmetric locational structure supports a noncooperative equilibrium in prices. However, in a two‐stage game of location choice in the first stage, and price choice in the second stage, there exists no subgame‐perfect equilibrium where the whole market is served. This is because, starting from any locational pattern, firms have incentives to move toward the central firm. This strong version of thePrinciple of Minimum Differentiationdestroys the possibility of a locational equilibrium. The results are a direct consequence of the existence of boundaries in the space of location. The sharp difference between these results and those of the standard circular model (whose product space lacks boundaries) shows that the general use of the circular model as an approximation to the line interval model may be unwarran

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00228.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACT.This paper proposes a new method for estimating a monthly regional production model. The technique involves treating the region's monthly industrial output as a latent variable, which is in turn a function of capital (prosed by energy usage) and labor inputs. Annual observations on regional value added correspond to the summation of the unobservable monthly series over the 12 months, while changes in the national Industrial Production index help infer the series' month‐to‐month fluctuations. The model is estimated using the Kalman filter and the method of maximum likelihood. The estimates are used to compute monthly indices of regional value added for 15 individual 2‐digit industries, and for the aggregate manufacturing sector in the Seventh Federal Reserve District. In a comparison of out‐of‐sample forecasting accuracy, the mixed‐frequency model outperforms both the traditional parametric Cobb‐Douglas and nonparametric Atlanta methods over the 1988–89 fore

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00229.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACT.This paper studies the price‐location equilibrium of duopolists supplying differentiated goods and competing in a spatial market with elastic demand. We show that a price‐location equilibrium exists under all three pricing policies traditionally considered by the literature: f.o.b. mill, uniform delivered, and spatially discriminatory pricing. We also show that firms always cluster at the market center. The second part of the paper studies the endogenous choice of pricing policy. A surprising feature of the resulting equilibrium is asymmetry. The greater the extent to which the goods are substitutes, the more likely is it that one firm will choose f.o.b. pricing and the other price discrimination. Finally, the welfare consequences of the analysis show some interesting trade

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00230.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACT.Kraybill and Dorfman (1992) propose a model of intermediate and export demand which uses ordinary least‐squares and linear systems techniques to produce a state‐space representation of the time element of output change. Their model produces dynamic multipliers which trace the temporal path of regional growth, and has many advantages over previously employed time series methods. This study extends their methodology to accommodate structural shifts and outliers found in the least‐squares relationship between industry and export output by using a recently‐introduced technique–multiprocess mixture estimation. An application of the Kraybill‐Dorfman method and the extensions proposed here to monthly time series data on Ohio employment is used to illustrate t

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00231.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

ABSTRACT.Deforestation caused by concession logging is often the result of harvest decisions which focus on short‐run profits rather than on long‐run sustainable harvest yields. A sequential‐decision model of this type of behavior is here developed which focuses on a logger's annual decisions of whether or not to remain in compliance with the terms of a concession contract. The contract stipulates harvesting procedures for a sustained forest yield, and noncompliance is taken to result in deforestation. An optimal decision policy for the concession logger is characterized in terms of optimal‐stopping theory, and is employed to construct payoff incentives which encourage compliance. In particular, a forest management problem is formulated which focuses on the effectiveness of partial inspection policies in deterring noncompliant behavior. General necessary and sufficient conditions for the effectiveness of such policies are established, and are given a more operational form for the Markov case. A numerical example based on actual concession‐contract data is also developed which suggests certain policy imp

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00232.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

Book Reviewed in this article:Stuck in Traffic: Coping with Peak‐Hour Traffic Congestion, by Anthony Downs; and Fast Wheels, Slow Traffic: Urban Transport Choices, by Charles L. Wright.Regional Shopping Centres: Out‐of‐Town versus In‐Town, by Peter J. McGoldrick and Mark G. Thompson.Competitive Manufacturing: New Strategies for Regional Development, by Stuart Rosenfeld.The Social Response to Environmental Risk Policy Formulation in an Age of Uncertainty, edited by Daniel W. Bromley and Kathleen Segerson.Innovation and Urban Population Dynamics: A Multi‐Level Process, edited by Klaus Peter Strohmeier and Christian w. Matthiessen.The University: A Regional Booster? by Raymond Florax.Neighbourhd Regeneration: An International Evaluation, edited by Rachelle Alterman and Goran Cars.The Tourism Industry: An International Analysis, edited by M. Thea Sinclair and M.J. Stabler.Development Issues and Strategies in the New Europe, edited by Markku Tykklainene.Why Airplanes Crash: Aviation Safety in a Changing World, by Clinton V. Oster, John S. Strong, and C. Kurt Zorn.Urban and Regional Economics, edited by Paul C. Cheshire and Alan

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00233.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00234.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1993.tb00235.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY