Harris and Wilson (1978)'s retail location model is a pioneering work that utilizes the combination of the “fast” and “slow” dynamics to describe the space economy. This paper elucidates the model's previously unknown comparative static (bifurcation) properties in a many-location setting beyond two. We show that the spatial structure's evolutionary path in line with decreasing transport costs exhibits a remarkable property, namely, a “spatial period-doubling cascade.” Furthermore, we reveal strong linkages between the model and “new economic geography” models in terms of their model structures and bifurcation properties, offering a new theoretical perspective for understanding agglomeration behaviors in multilocation settings.
ASJC Scopus subject areas
- Environmental Science (miscellaneous)