Inefficiency of Spatial Prices Using the Thermodynamic Formalism
Bibliographic Data
| ID | 5120831 |
|---|---|
| Authors | Leslie Curry (0000-0002-3419-4654, University of Toronto, corresponding author) |
| Year | 1984 |
| Volume | 16 |
| Issue | 1 |
| Pages | 5-16 |
| Publication date | 1984-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environment and Planning A Economy and Space (JOURNAL) |
| Journal identifiers | ISSN: 0308-518X • E-ISSN: 1472-3409 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1068/a160005 |
| OpenAlex | W1969905773 |
| Language | EN |
| Citations received | 5 |
| References cited | 6 |
A set of relationships is provided between an existing map of prices and flows of a commodity and that map which would occur under the assumptions of competitive spatial price-equilibrium. The primary concepts developed are areal (configurational) entropy of prices, general level of intensity of exploitation of opportunities, and the equilibrium prices set by a linear programming solution of an interregional commodity-distribution problem. Secondary concepts are the inefficiencies of flows and of prices due to insufficient exploitation of opportunities and due to 'wrong' pricing (or transaction costs). The value of information is discussed and an application made to the contribution of externalities to land rent
Commodity · Database · Database transaction · Econometrics · Economics · Externality · Inefficiency · Microeconomics · Thermodynamics · Transaction cost · Complex Systems and Time Series Analysis · Computer Science · Economic theories and models · Sustainability and Ecological Systems Analysis · Finance
| Citations per year | 0.12 |
|---|---|
| Citation span | 1984 - 2010 (27) |
| Highly cited | No |