A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
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.
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.
A spatial price equilibrium model with congestion effects
Yang, Hai (author)
1996
Article (Journal)
English
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