arXiv Open Access 2019

Necessary and sufficient condition for equilibrium of the Hotelling model on a circle

Satoshi Hayashi Naoki Tsuge

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Abstrak

We study a model of vendors competing to sell a homogeneous product to customers spread evenly along a circular city. This model is based on Hotelling's celebrated paper in 1929. Our aim in this paper is to present a necessary and sufficient condition for the equilibrium. This yields a representation for the equilibrium. To achieve this, we first formulate the model mathematically. Next, we prove that the condition holds if and only if vendors are equilibrium.

Topik & Kata Kunci

econ.TH

Penulis (2)

Satoshi Hayashi

Naoki Tsuge

Format Sitasi

APA MLA BibTeX

Hayashi, S., Tsuge, N. (2019). Necessary and sufficient condition for equilibrium of the Hotelling model on a circle. https://arxiv.org/abs/1910.11154

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Informasi Jurnal

Tahun Terbit: 2019
Bahasa: en
Sumber Database: arXiv
Akses: Open Access ✓