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A spatial price equilibrium model with congestion effects

Author

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  • Hai Yang

    () (Department of Civil and Structural Engineering, Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong)

Abstract

This paper examines the commodity price equilibrium problem in a spatially extended market. The earlier continuous equilibrium modeling approach is extended by explicitly taking into account congestion effects. An optimization model with a flow-dependent transportation cost function is proposed and its dual formulation in terms of a potential function is derived. The complementarity conditions between the primal and dual problems are shown to be equivalent to the spatial price equilibrium conditions with congestion effects.

Suggested Citation

  • Hai Yang, 1996. "A spatial price equilibrium model with congestion effects," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 30(4), pages 359-371.
  • Handle: RePEc:spr:anresc:v:30:y:1996:i:4:p:359-371
    Note: Received: June 1996 / Accepted: September 1996
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    Cited by:

    1. Chengliang Liu & Qinchang Gui, 2016. "Mapping intellectual structures and dynamics of transport geography research: a scientometric overview from 1982 to 2014," Scientometrics, Springer;Akadémiai Kiadó, vol. 109(1), pages 159-184, October.
    2. Ouyang, Yanfeng & Wang, Zhaodong & Yang, Hai, 2015. "Facility location design under continuous traffic equilibrium," Transportation Research Part B: Methodological, Elsevier, vol. 81(P1), pages 18-33.

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