Research output: Contribution to journal › Article › peer-review
In this article, we study the spatial market equilibrium in the case of fixed demands and supply values, the requirement of equality in regard to overall supply and overall demand, and linear transportation costs. The problem is formulated as a nonlinear optimization program with dual variables reflecting supply and demand prices. It is shown that the unique equilibrium commodity assignment pattern is obtained explicitly via equilibrium prices. Moreover, it is proved that in order to obtain absolute values of equilibrium prices, it is necessary to establish a certain base market price. Therefore, once the base market price is given, then other prices are adjusted according to spatial market equilibrium.
Translated title of the contribution | Spatial market equilibrium in the case of linear transportation costs |
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Original language | Russian |
Pages (from-to) | 447-454 |
Number of pages | 8 |
Journal | Vestnik Sankt-Peterburgskogo Universiteta, Prikladnaya Matematika, Informatika, Protsessy Upravleniya |
Volume | 16 |
Issue number | 4 |
DOIs | |
State | Published - Dec 2020 |
Event | Stability and Control Processes: International Conference Dedicated to the Memory of Professor Vladimir Zubov: Dedicated to the Memory of Professor Vladimir Zubov - Санкт-Петербургский Государственный Университет, Saint Petersburg, Russian Federation Duration: 5 Oct 2020 → 9 Oct 2020 Conference number: 4 http://www.apmath.spbu.ru/scp2020/ http://www.apmath.spbu.ru/scp2020/ru/main/ http://www.apmath.spbu.ru/scp2020/eng/program/#schedule https://link.springer.com/conference/scp |
ID: 74602385