Parameters of the Retail Trade Model: A Utility Based Interpretation

Trevor Grigg
Additional contact information
Trevor Grigg: Trevor Grigg is at the University of Queensland, Brisbane, Australia 4067

Urban Studies, 1984, vol. 21, issue 1, 73-79

Abstract: Recently, attention has been directed at the existence and stability of the supply-side equilibria implied by the traditional retail trade model. Some interest has also been shown in the dynamic behaviour of retail suppliers by postulating various supply adjustment mechanisms in response to demand-supply imbalances. This research has demonstrated the important role played by the model parameters in determining the modelled behaviour of the retail trade market. However, until we have a firm conceptual basis for these parameters, and for the model itself, we may only be succeeding in increasing our understanding of the mathematical properties of the model without contributing significantly to an improved understanding of the interaction of retail demand and supply. The aim of this paper is to provide a probabilistic interpretation of the model and its parameters using random utility theory.

Date: 1984
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1080/00420988420080071 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:21:y:1984:i:1:p:73-79

DOI: 10.1080/00420988420080071

Access Statistics for this article

More articles in Urban Studies from Urban Studies Journal Limited
Bibliographic data for series maintained by SAGE Publications ().