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Heterogeneous Space In Regional Economics And Beyond

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  • John G. Greenhut
  • Dean Howard Smith

Abstract

. This paper points to the multiple forces which establish differential prices and outputs over heterogeneous space. Such space clearly applies to a regional economy where costly distance provides opportunities for sellers to discriminate in price among customers. Similar discriminatory opportunities may be created in a spaceless world through, for example, product differentiation and the passage of time. It is in this broad perspective that a generalized theory of discriminatory spatial pricing is formulated. Simulations reveal a remarkable panoply of cost, price, and output relationships, highlighting the criticality of variations in elasticity in determining macro, micro, and regional economic behaviour.

Suggested Citation

  • John G. Greenhut & Dean Howard Smith, 2006. "Heterogeneous Space In Regional Economics And Beyond," Pacific Economic Review, Wiley Blackwell, vol. 11(4), pages 431-448, December.
    • Handle: RePEc:bla:pacecr:v:11:y:2006:i:4:p:431-448
    DOI: 10.1111/j.1468-0106.2006.00326.x
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    References listed on IDEAS

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    1. Phlips,Louis, 1983. "The Economics of Price Discrimination," Cambridge Books, Cambridge University Press, number 9780521283946.
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