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- Title
PRICING UNDER SPATIAL COMPETITION AND SPATIAL MONOPOLY: REPLY.
- Authors
Capozza, Dennis R.; Van Order, Robert
- Abstract
The article responds to comments to a paper on pricing under spatial competition and spatial monopoly. The major point of the comments relates to a misprint in the paper which states that it is the "smallest" positive root that is relevant. It should have read "largest." The statement appeared following the equation for equilibrium price with Loschian competition. The author suggests that the smaller root solution is unstable and inconsistent with nonnegative consumption. Only the larger root is economically admissible.
- Subjects
PRICING; COMPETITION; MONOPOLIES; ECONOMIC equilibrium; ECONOMICS; MARKET equilibrium; CONSUMPTION (Economics); NUMERICAL roots; PRICES
- Publication
Econometrica, 1980, Vol 48, Issue 5, p1329
- ISSN
0012-9682
- Publication type
Article
- DOI
10.2307/1912190