Discrete-Space Agglomeration Model with Social Interactions: Multiplicity, Stability, and Continuous Limit of Equilibria

Takashi Akamatsu, Shota Fujishima and Yuki Takayama ()

MPRA Paper from University Library of Munich, Germany

Abstract: This study examines the properties of equilibrium, including the stability, of discrete-space agglomeration models with social interactions. The findings reveal that while the corresponding continuous-space model has a unique equilibrium, the equilibrium in discrete space can be non-unique for any finite degree of discretization by characterizing the discrete-space model as a potential game. Furthermore, it indicates that despite the above result, any sequence of discrete-space models' equilibria converges to the continuous-space model's unique equilibrium as the discretization of space is refined.

Keywords: Social interaction; Agglomeration; Discrete space; Potential game; Stability; Evolutionary game theory (search for similar items in EconPapers)
JEL-codes: C62 C72 C73 D62 R12 (search for similar items in EconPapers)
Date: 2016-10-23
New Economics Papers: this item is included in nep-geo, nep-gth, nep-mic and nep-ure
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Related works:
Journal Article: Discrete-space agglomeration model with social interactions: Multiplicity, stability, and continuous limit of equilibria (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:74713

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