Necessary and sufficient condition for equilibrium of the Hotelling model

Satoshi Hayashi and Naoki Tsuge

Papers from arXiv.org

Abstract: We study a model of vendors competing to sell a homogeneous product to customers spread evenly along a linear city. This model is based on Hotelling's celebrated paper in 1929. Our aim in this paper is to present a necessary and sufficient condition for the equilibrium. This yields a representation for the equilibrium. To achieve this, we first formulate the model mathematically. Next, we prove that the condition holds if and only if vendors are equilibrium.

Date: 2019-07
New Economics Papers: this item is included in nep-gth and nep-ind
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1907.06200

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