A spatial price equilibrium model with congestion effects

Hai Yang

The Annals of Regional Science, 1996, vol. 30, issue 4, 359-371

Abstract: This paper examines the commodity price equilibrium problem in a spatially extended market. The earlier continuous equilibrium modeling approach is extended by explicitly taking into account congestion effects. An optimization model with a flow-dependent transportation cost function is proposed and its dual formulation in terms of a potential function is derived. The complementarity conditions between the primal and dual problems are shown to be equivalent to the spatial price equilibrium conditions with congestion effects.

Date: 1996
Note: Received: June 1996 / Accepted: September 1996
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Persistent link: https://EconPapers.repec.org/RePEc:spr:anresc:v:30:y:1996:i:4:p:359-371

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