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

• Tác giả: Satoshi Hayashi, Naoki Tsuge
• Ngôn ngữ: eng
• Ký hiệu phân loại: 526.12 Mathematical geography
• Thông tin xuất bản: 2019
• Bộ sưu tập: Metadata
• ID: 163520

Tóm tắt

Comment: arXiv admin note: substantial text overlap with arXiv:1907.06200We 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.