The exclusion theorem under uncertainty: A review and generalization of recent contributions

Song-Ken Hsu and Lin-Ti Tan ()
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Song-Ken Hsu: Department of Industrial Economics, Tamkang University, Tamsui, Taipei, Taiwan 251
Lin-Ti Tan: Institute of Economics, Academia Sinica, Nankang, Taipei, Taiwan 115

The Annals of Regional Science, 2000, vol. 34, issue 2, 305-313

Abstract: This paper attempts to examine the validity of the exclusion theorem on a line under a stochastic environment in a more general context than prior studies. Our analysis shows that there are three key factors determining the intermediate or the corner location to be optimal; namely, including the type of uncertainty, the firm's attitude toward risk, and the convexity of the total transportation cost function. The main result is presented, and a comparison of our finding with those obtained by prior studies is then provided.

Date: 2000-07-12
Note: Received: July 1998/Accepted: January 1999
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