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Equilibrium Existence in the Linear Model of Spatial Competition

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Anderson, Simon P

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Abstract

This paper considers a generalization of the Hotelling model of spatial competition. It is shown that a pure strategy perfect equilibrium in the two-stage location-price game exists only under very stringent conditions. These conditions are in fact the conditions for profit to be concave in price for any given location pair. When the solution concept is extended to allow for mixed strategies, there is no symmetric equilibrium involving pure strategies if transport costs are not sufficiently convex. The convexity of transport costs is crucial in determining whether there is excessive or insufficient diversity of products. Copyright 1988 by The London School of Economics and Political Science.

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Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 55 (1988)
Issue (Month): 220 (November)
Pages: 479-91
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Handle: RePEc:bla:econom:v:55:y:1988:i:220:p:479-91

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  1. L. Lambertini, 2002. "the Specialization of Production and Labour Mobility Under Endogenous Differentiation," Working Papers 453, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  2. Simon P. Anderson, 1989. "Location Equilibria Under Alternative Solution Concepts," Discussion Papers 885, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  3. Simon P. Anderson, 2005. "Regulation of Television advertising," Virginia Economics Online Papers 363, University of Virginia, Department of Economics. [Downloadable!]
  4. Kieron Meagher & Arghya Ghosh, 2004. "Political Economy of Infrastructure Investment: A Spatial Approach," Econometric Society 2004 North American Summer Meetings 561, Econometric Society. [Downloadable!]
  5. Sougata Poddar & Ruby Toh, 2006. "Asymmetric Spatial Competition," Departmental Working Papers wp0604, National University of Singapore, Department of Economics. [Downloadable!]
  6. L. Lambertini & R. Orsini, 1998. "Existence of Equilibrium in A Differentiated Duopoly With Network Externalities," Working Papers 333, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  7. Andrey V. Ivanov & Florian Mueller, 2006. "“Ineffective” competition: a puzzle?," Discussion Papers 117, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
  8. Hamid Hamoudi & Marta Risueño, 2007. "A synthesis of location models," Economics Bulletin, Economics Bulletin, vol. 3(30), pages 1-15. [Downloadable!]
  9. Arguedas, Carmen & Hamoudi, Hamid & Saez, Manuel, 2007. "Equilibrium Nonexistence in Spatial Competition with Quadratic Transportation Costs," Working Papers in Economic Theory 2007/01, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History). [Downloadable!]
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