Spurious agglomeration

Article Abstract:

The existence of spatial agglomeration within an equilibrium context is examined. Agglomeration of spatial concentration may occur given an incentive problem wherein land developers choose similar locations for their projects out of concern for their reputations. Otherwise, creditors may not be inclined to extend future credit to developers who make unconventional choices. Such behavior results in an abnormal concentration of firms engaged in the same business within a certain area, or in excessively large cities. An extension of Scharfstein and Stein's herding model shows that agglomeration may exist in equilibrium. However, this inefficiency may be alleviated by land-use regulation through an agglomeration tax such as a fee for development cost. Benefits from such a tax include information efficiency and the internalization of growth-induced agglomeration costs.

Industrial concentration

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Are center access advantages weakening? The case of office-commercial markets

Article Abstract:

A study was conducted to determine if center access advantages in office-commercial markets are weakening. This exploration focuses on changes in the office-commercial land market within polycentric Los Angeles, CA, in the 1990s. The region is traditionally perceived as the pioneer in metropolitan trends. For this study, the polycentric office-commercial value gradients between 1989 and 1994 were compared. Findings revealed significant flattening in such gradients, confirming that the information revolution is leading to the weakening of spatial links between office-commercial activities and major business centers, which result in the greater dispersion of business location patterns.

Commercial and Institutional Building Construction, Office Buildings, Nonresidential construction, not elsewhere classified, Office construction, Los Angeles, California, Location, Commercial buildings, Central business districts

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Production-location decision and free entry oligopoly

Article Abstract:

An oligopoly model of location is used to demonstrate the role played by the demand condition in the selection of industrial location. The model, which assumes that the firms make Cournot decisions about their rivals' choice of industrial location, is applicable to firms in an industry that is imperfectly competitive. The model is also used to establish a framework under which the differences between oligopoly and monopoly can be studied.

Monopolies, Oligopolies

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