Chapter

Space and Value: An Outlook and New Perspectives

Suzanne Scotchmer and Jacques‐François Thisse

in Economics Beyond the Millennium

Published in print September 1999 | ISBN: 9780198292111
Published online November 2003 | e-ISBN: 9780191596537 | DOI: http://dx.doi.org/10.1093/0198292112.003.0010

Series: The ASSET Series

 Space and Value: An Outlook and New Perspectives

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The authors lament the little attention that has been accorded to the role of space in the economy. They discuss the location decisions of firms and consumers under various assumptions and show how important the introduction of a land market can be for such decisions. They conclude that no satisfactory comprehensive model that incorporate the simultaneous decisions of firms and consumers and includes capitalisation and transport costs exists. They nevertheless consider that there is a rich set of problems to be explored and which may yield such a model.

Keywords: firms’ and consumers’ location decisions; land market; location; space; transport costs

Chapter.  8607 words. 

Subjects: Macroeconomics and Monetary Economics

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