TY - JOUR
T1 - Precise computation of a competitive equilibrium of the discrete land market model
AU - Miyake, Mitsunobu
N1 - Funding Information:
The first version of this paper entitled ‘Precise Computation of the Bid-Rent Equilibria by Finite Steps’ was presented at the 2001 Far Eastern Meeting of Econometric Society. The research was partially supported by the Ministry of Education, Science and Culture through JSPS Grant-in-Aids for Scientific Research No. 12630002.
PY - 2003/10
Y1 - 2003/10
N2 - This paper provides a finite algorithm to compute a competitive equilibrium of the Alonso-type discrete land market model (known as bid-rent equilibrium) without assuming any condition on the spatial configuration such as monocentricity. The existence of the finite algorithm implies that the discrete land market model is sufficiently tractable for computer simulation analysis (sensitivity analysis) even if the spatial configuration is variable. Specifically, we can evaluate numerically the effects of new routes in a transportation network upon equilibrium rents and commuting mode.
AB - This paper provides a finite algorithm to compute a competitive equilibrium of the Alonso-type discrete land market model (known as bid-rent equilibrium) without assuming any condition on the spatial configuration such as monocentricity. The existence of the finite algorithm implies that the discrete land market model is sufficiently tractable for computer simulation analysis (sensitivity analysis) even if the spatial configuration is variable. Specifically, we can evaluate numerically the effects of new routes in a transportation network upon equilibrium rents and commuting mode.
KW - Competitive equilibrium
KW - Discrete land market model
KW - Finite algorithm
KW - Numerical simulation
KW - Recursive method
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U2 - 10.1016/S0166-0462(03)00009-7
DO - 10.1016/S0166-0462(03)00009-7
M3 - Article
AN - SCOPUS:0141994483
VL - 33
SP - 721
EP - 743
JO - Regional Science and Urban Economics
JF - Regional Science and Urban Economics
SN - 0166-0462
IS - 6
ER -