Article (Scientific journals)
On Spatial Equilibria in a Social Interaction Model
Mossay, Pascal; PICARD, Pierre M.
2011In Journal of Economic Theory, 146 (6), p. 2455-2477
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Keywords :
Social interaction; Multiple agglomerations; Spatial economy
Abstract :
[en] Social interactions are at the essence of societies and explain the gathering of individuals in villages, agglomerations, or cities. We study the emergence of multiple agglomerations as resulting from the interplay between spatial interaction externalities and competition in the land market. We show that the geography of the spatial economy affects significantly the properties of spatial equilibria. In particular, when agents locate on an open land strip (line segment), a single city emerges in equilibrium. In contrast, when the spatial economy extends along a closed land strip (circumference), multiple equilibria with odd numbers of cities arise. Spatial equilibrium configurations involve a high degree of spatial symmetry in terms of city size and location, and can be Pareto-ranked.
Disciplines :
Economic systems & public economics
Identifiers :
UNILU:UL-ARTICLE-2012-241
Author, co-author :
Mossay, Pascal;  University of Reading, United Kingdom
PICARD, Pierre M. ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
External co-authors :
yes
Language :
English
Title :
On Spatial Equilibria in a Social Interaction Model
Publication date :
2011
Journal title :
Journal of Economic Theory
ISSN :
0022-0531
eISSN :
1095-7235
Publisher :
Academic Press, San Diego, United States - California
Volume :
146
Issue :
6
Pages :
2455-2477
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBilu :
since 27 November 2013

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