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| Author: | Smart M. |
| Title: | Transport demand and spatial equilibria |
| Journal: | Journal of Transport Economics and Policy
2008 : MAY, VOL. 42:2 p. 323-343 |
| Index terms: | transport costs spatial economics equilibrium analysis |
| Freeterms: | transport demand consumer and produced surplus |
| Language: | eng |
| Abstract: | Characteristics of transport demand are inferred from spatial equilibrium with exogenous locations. For non-trivial spatial distributions of firms and markets I derive computable expressions for elasticity of transport demand, producer surplus, and consumer surplus as a function of the mass-distance price of transport. Producer surplus is likely to have one or multiple local maxima, suggesting a disincentive for producers to minimize transport costs. Numerical simulation is used to illustrate results. A method is suggested for computing simultaneous transport and commodity market equilibria for spatially dispersed markets. |
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