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articles: Optimal search on spatial paths with recall, Part II: Computational procedures and examples

Author

Listed:
  • T.E. Smith

    (Department of Systems Engineering, University of Pennsylvania, 220 South 33rd Street, Philadelphia, PA 19104-6315, USA)

  • Mitchell Harwitz

    (Department of Economics, State University of New York at Buffalo, 415 Fronczak Hall, Buffalo, NY 14260-1520, USA)

  • Barry Lentnek

    (Department of Geography, State University of New York at Buffalo, Wilkeson Quad, Buffalo, NY 14261, USA)

  • Peter Rogerson

    (Department of Geography, State University of New York at Buffalo, Wilkeson Quad, Buffalo, NY 14261, USA)

Abstract

This is the second part of a two-part analysis of optimal spatial search begun in Harwitz et al. (1998). In the present article, two explicit computational procedures are developed for the optimal spatial search problem studied in Part I. The first uses reservation prices with continuous known distributions of prices and is illustrated for three stores. The second does not use reservation prices but assumes known discrete distributions. It is a numerical approximation to the first and also a tool for examining examples with larger numbers of stores.

Suggested Citation

  • T.E. Smith & Mitchell Harwitz & Barry Lentnek & Peter Rogerson, 2000. "articles: Optimal search on spatial paths with recall, Part II: Computational procedures and examples," Papers in Regional Science, Springer;Regional Science Association International, vol. 79(3), pages 293-305.
    • Handle: RePEc:spr:presci:v:79:y:2000:i:3:p:293-305
    Note: Received: 10 October 1996
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    Citations

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    Cited by:

    1. Gunther Maier, 2009. "Spatial prices, search behavior and location," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 43(1), pages 27-48, March.
    2. Ralph Braid, 2014. "The socially optimal and equilibrium locations of two stores or libraries with consumer search," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 53(1), pages 123-136, August.

    More about this item

    Keywords

    Search; spatial search; spatial economics;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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