Spatial price equilibrium,distribution center location and successive over-relaxation |
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Authors: | F Guder J G Morris |
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Institution: | (1) School of Business, Loyola University of Chicago, 60611 Chicago, Illinois, USA;(2) School of Business, University of Wisconsin, 53706 Madison, Wisconsin, USA |
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Abstract: | A spatial price equilibrium problem is modeled which allows piecewise linear convex flow costs, and a capacity limit on the trade flow between each supply/demand pair of regions. Alternatively, the model determines the locations of intermediate distribution centers in a market economy composed of separate regions, each with approximately linear supply and demand functions. Equilibrium prices, regional supply and demand quantities, and commodity flows are determined endogenously. The model has a quadratic programming formulation which is then reduced by exploiting the structure. The reduced model is particularly well suited to solution using successive over-relaxation. |
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Keywords: | Spatial price equilibrium quadratic programming interregional trade distribution successive over-relaxation |
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