The Nature of Equilibrium in a Location Model
The Nature of Equilibrium in a Location Model
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区位模型中均衡的本质
DOI:
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发表时间:
1986
期刊:
影响因子:
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通讯作者:
Carolyn Pitchik
中科院分区:
文献类型:
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作者:
M. Osborne;Carolyn Pitchik
Models of location are appropriate in a number of contexts in economics and political science. For example, firms choose where to position stores and which of a spectrum of goods to produce, and politicians select the nature of their platforms. In such models it is natural to look for a collection of locations with the property that the location of each individual is optimal, given the positions of all other individuals. However, the pure strategy Nash equilibrium provides a solution which is both incomplete and unsatisfactory. Incomplete, because in many cases no such equilibrium exists. Unsatisfactory, because even when it does exist it may not be robust to the specification of the model.