Heterogeneous space in regional economics and beyond

John G. Greenhut, Dean H Smith

Research output: Contribution to journalArticle

Abstract

This paper points to the multiple forces which establish differential prices and outputs over heterogeneous space. Such space clearly applies to a regional economy where costly distance provides opportunities for sellers to discriminate in price among customers. Similar discriminatory opportunities may be created in a spaceless world through, for example, product differentiation and the passage of time. It is in this broad perspective that a generalized theory of discriminatory spatial pricing is formulated. Simulations reveal a remarkable panoply of cost, price, and output relationships, highlighting the criticality of variations in elasticity in determining macro, micro, and regional economic behaviour.

Original languageEnglish (US)
Pages (from-to)431-448
Number of pages18
JournalPacific Economic Review
Volume11
Issue number4
DOIs
StatePublished - Dec 2006

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Economics
economics
Macros
Costs
Elasticity
economic behavior
regional economy
elasticity
pricing
customer
simulation
costs
cost
price
Regional economics
time
world
product
Microeconomics
Regional economy

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development
  • Aerospace Engineering

Cite this

Heterogeneous space in regional economics and beyond. / Greenhut, John G.; Smith, Dean H.

In: Pacific Economic Review, Vol. 11, No. 4, 12.2006, p. 431-448.

Research output: Contribution to journalArticle

Greenhut, John G. ; Smith, Dean H. / Heterogeneous space in regional economics and beyond. In: Pacific Economic Review. 2006 ; Vol. 11, No. 4. pp. 431-448.
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