A Simultaneous-Equation Model of Spatial Equilibrium and Its Application to the Broiler Markets

Tsoung-Chao Lee and Stanley K. Seaver

American Journal of Agricultural Economics, 1971, vol. 53, issue 1, 63-70

Abstract: The simultaneous-equation approach is used to formulate a positive spatial equilibrium model consisting of linear behavioral and definitional equations and bilinear equilibrium conditions. In contrast to the normative Takayama-Judge quadratic spatial equilibrium model, the positive model leads to a smaller simplex tableau and permits evaluation of the effect of predetermined variables on spatial equilibrium. The model is applied to structural changes of broiler markets. Spatial equilibrium multipliers are presented to show the interregional competition of the existing broiler markets.

Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:53:y:1971:i:1:p:63-70.

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