TY - JOUR
T1 - Heterogeneous space in regional economics and beyond
AU - Greenhut, John G.
AU - Howard Smith, Dean
PY - 2006/12
Y1 - 2006/12
N2 - 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.
AB - 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.
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U2 - 10.1111/j.1468-0106.2006.00326.x
DO - 10.1111/j.1468-0106.2006.00326.x
M3 - Article
AN - SCOPUS:33845333872
SN - 1361-374X
VL - 11
SP - 431
EP - 448
JO - Pacific Economic Review
JF - Pacific Economic Review
IS - 4
ER -